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Loans by size of firms 2022Sep

Published on 11/10/2022
Following a change in the editorial line of some Stat Info (see the press release available here), this publication is now discontinued but the corresponding time series remain available in Webstat (the Banque de France's statistics website). The new Stat info "Financing of enterprises" can be consulted online here

Credit remains dynamic regardless of company size

  • As at end-September 2022, loans mobilized by businesses totaled EUR 1,308 billion, up +7.9% year-on-year, after an increase of +8.3% at end-August 2022.
  • Outstanding loans are up sharply year-on-year, regardless of company size. It is particularly high for large companies (+15.2% in September 2022 versus +15.5% in August 2022), probably due to less recourse to market financing, which has become more expensive. For small and medium-sized companies, the increase is +5.6% in September 2022, compared with +6.4% in August 2022, while for SMEs it reaches +5.7% in September 2022, compared with +6.1% in August.
  • Growth in outstanding loans is mainly driven by all industries (+11.8%, although very low for manufacturing, +0.9%), the real estate sector (+10.7%) and consulting and business services (+9.9%). On the other hand, outstanding loans stabilized for the accommodation and catering sector (-0.6%).
  • The interest rate on new loans of up to EUR 1 million is up by 18 basis points to 2.25% (after 2.07% in August). The interest rate on loans with a unit value of more than EUR 1 million raises by 37 basis points to 2.13% (after 1.76% in August).
Outstanding amounts of loans to resident enterprises by size (*)
(Outstanding amounts in EUR Bn, annual growth rate in %)
Drawn credits
Number of enterprises (**) Outstanding
Annual growth rate
Sep. 2022 Sep. 2022 Sep. 22 / Sep. 21 Aug. 22 / Aug. 21
SME 1,291,045 563.3 5.6 6.1
ISE 7,327 348.5 5.7 6.5
Large Firms 297 192.8 15.2 15.5
(exc. non-trading real estate companies and others)
1,298,669 1,104.6 7.2 7.7
non-trading real estate companies and others (see additional information) 654,995 203.8 11.8 11.6
All enterprises 1,953,664 1,308.4 7.9 8.3
(*) 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 credits Drawn and undrawn credits
Outstanding amounts Annual growth rates Outstanding amounts Annualg growth rates
Sep. 22 Sep. 22 / Sep. 21 Sep. 22 Sep. 22 / Sep. 21
Agriculture, forestry and fishing (AZ) 61.9 3.0 71.1 4.6
Industry (BE) 164.5 11.7 257.5 5.0
- inc. Manufacturing (C) 115.8 0.7 181.4 -2.2
Construction (FZ) 73.8 4.1 114.6 8.6
Wholesale and retail trade; repair of motor vehicles and motorcycles (G) 183.9 5.2 259.0 5.8
Transportation and storage (H) 58.3 4.7 72.0 4.4
Accommodation and food service activities (I) 49.0 -0.5 53.7 -0.3
Information and communication (JZ) 31.8 4.6 54.9 0.5
Real estate activities (LZ) 513.8 10.7 567.5 11.3
Advisory and Business support activities (MN) 96.4 9.9 124.5 8.3

Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S)
59.0 0.1 68.2 -1.0
Holdings 16.1 17.2 19.9 10.2
Total 1,308.4 7.9 1,662.8 7.1
Interest rates on new loans to non-financial corporations (exc. overdraft)
(Effective interest rates in the narrow sense, in percentages)
Sep.-21 Apr.-22 May-22 Jun.-22 Jul.-22 Aug.-22 (a) Sep.-22 (b)
- credits< or = 1 million euros 1.36 1.47 1.55 1.62 1.93 2.10 2.28
- credits> 1 million euros 1.41 1.18 1.42 1.70 1.68 1.78 2.13
(a) Revised
(b) Provisional
Outstanding amounts of credit
(drawn credit, in EUR Bn (*))
(*) see additional information
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:
Outstanding amounts of credit to micro-enterprises (incl. sole proprietors), come from another data collection and are available at the following address:

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).
More information on methodology time series calendar
All statistical time series published by the Banque de France can be accessed on
Webstat Banque de France
STAT INFO - September 2022
Loans by size of firms

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Loans by size of firms
  • Published on 11/10/2022
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Published on Thursday, November 10, 2022