Loans to SMEs and ISE slow down
- At end-January 2018, the outstanding amount of drawn credit reached 947.4 billion euros, increasing by 5.3 % over a year, after 5.6 % in December.
- By category of enterprises, the figures were + 3.6 % for SMEs, + 4.6 % for ISEs and + 5.2 % for LFs.
- The increase in the outstanding amount of drawn credit concerned almost all sectors. It stood at 6.8% over a year in manufacturing, 4.7 % in advisory and business support activities, and 4.2 % in transportation and storage. By contrast, the outstanding amount of drawn credit decreased in the information and communication sector (-2.8 %).
- The average interest rate of new loans decreased slightly in January for loans with a unit amount of more than EUR 1 million (1.31 %, down from 1.35 % in December) and was stable for the ones with a unit amount of less than or equal to EUR 1 million (1.67 %)
Outstanding amounts of loans to resident enterprises by size (*)
(Outstanding amounts in EUR Bn, annual growth (***) rate in %)
||Number of enterprises (**)
annual growth rate
||Janv.- 2018 / Janv. 2017
(exc. non-trading real estate companies and others)
|non-trading real estate companies and others (see Additional)
(*) inc. sole proprietors
(**) LME definition, with loans outstanding amounts above 25000 euros
Outstanding amounts of loans to resident enterprises by type of credit and by sector
(Outstanding amounts in EUR Bn, annual growth rate (***) in %)
||Drawn and undrawn credits
||Annual growth rates
||Annual growth rate
||Jan. 2018/ Jan. 2017
||Jan. 2018/ Jan. 2017
|Agriculture, forestry and fishing (AZ)
|- inc. Manufacturing (C)
|Wholesale and retail trade; repair of motor vehicles and motorcycles (G)
|Transportation and storage (H)
|Accommodation and food service activities (I)
|Information and communication (JZ)
|Real estate activities (LZ)
|Business support activities (MN)
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S)
(***): the revision of the annual growth rates backdata came this month primarily from an update of the enterprise population.
Interest rates to new loans to non-financial corporations (exc. overdraft)
(Effective interest rates in the narrow sense, in percentages)
||Dec- 2017 (a)
||Jan- 2018 (b)
|- Credits < or = 1 million euros
|- Credits > 1 million euros
Outstanding amounts of credit
(drawn credit, in EUR Bn (*))
(*) see Additional information
The outstanding amounts of credit in this publication are those collected by the central credit register, i.e. of a unit amount of more than 25,000 euros. These outstanding amounts include drawn credits, which means those actually used, and the undrawn credits, unused lines of credit. Individual data are grouped according to the size (larges firms, intermediate-sized enterprise - ISE and small and medium-sized enterprise - SME) and the sector of businesses. Businesses that cannot be assigned in a size category according to the criteria of the LME (Loi de Modernisation de l'Économie) are included in the category "non-trading real estate companies and others".
Additional data on SMEs, interest rates by size of enterprises, and share of less than 3 year old enterprises (excl. sole proprietors) in the total of enterprises, are available at the following address: http://webstat.banque-france.fr/fr/browse.do?node=5384417
Outstanding amounts of credit to micro-enterprises (incl. sole proprietors), come from another data collection and are available at the following address: http://webstat.banque-france.fr/fr/browse.do?node=5384934
Non-financial corporations include all enterprises with as main activity the market production of goods and non-financial services, excluding sole proprietors.
Interest rates in this publication are those to new credits distributed by resident credit institutions to French non-financial corporations. The interest rates are effective rates in the narrow sense. They correspond to the interest component of the Annual Percentage Rate (TEG).
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Published on Monday, March 12, 2018