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Loans by size of firms 2019Aug

Published on 10/09/2019
Credit growth stabilizes
  • The outstanding amount of drawn credit reaches 1,038.0 billion euros at end August 2019, up 6.6% year-on-year, after a rise of 6.7% between July 2019 and July 2018.
  • The acceleration of credits drawn by large firms is interrupted (+8.3% over one year, after +8.6% in July). The acceleration of loans drawn by intermediate-sized enterprises is also interrupted (+4.2% over one year, after +4.5% in July), while the slight slowing down for SMEs continues (+6.3% on a year-on-year basis, against +6.4% in July).
  • The increase in the outstanding amount of drawn credit still concerns all sectors. It is particularly strong in the information and communication sector, where it stands at 12.6%, as well as in the areas of advice and services for businesses (+9.8%) and industry (+7.8%). The lowest growth rates are observed in the construction (+3.6%) and education and human health (+3.1%) sectors.
  • The average interest rate on new loans to NFCs decreases by 15 basis points in August 2019 for loans over EUR 1 million (1.36%, down from 1.51% in July 2019) and by 3 points for loans up to EUR 1 million (1.57%, down from 1.60% in July 2019).
Outstanding amounts of loans to resident enterprises by size (*)
(Outstanding amounts in EUR Bn, annual growth rate in %)
Number of enterprises (**) Outstanding amounts Drawn credits

annual growth rate
Aug. 19 Aug. 19 Aug. 19/Aug. 18 July 19/July 18
SME 1,119,090 430.4 6.3 6.4
ISE 6,412 282.8 4.2 4.5
Large Firms 275 145.5 8.3 8.6
(exc. non-trading real estate companies and others)
1,125,777 858.7 5.9 6.1
non-trading real estate companies and others (see Additional) 597,853 179.3 9.9 9.7
All enterprises 1,723,630 1,038.0 6.6 6.7
(*) inc. sole proprietors
(**) LME definition, with loans outstanding amounts above 25000 euros
(***) Outstanding amounts and y-o-y growth rates have been revised after revisions of some statements made by banks
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 Annual growth rate
Aug. 19 Aug. 19/Aug.18 Aug.19 Aug. 19/ Aug.18
Agriculture, forestry and fishing (AZ) 54.9 4.3 62.6 4.3
Industry (BE) 135.0 7.8 227.8 8.6
- inc. Manufacturing (C) 105.9 6.8 173.7 7.1
Construction (FZ) 54.4 3.6 84.8 8.3
Wholesale and retail trade; repair of motor vehicles and motorcycles (G) 138.3 3.9 191.2 3.3
Transportation and storage (H) 48.6 5.9 62.4 3.8
Accommodation and food service activities (I) 31.4 5.1 35.9 6.6
Information and communication (JZ) 18.7 12.6 44.9 37.3
Real estate activities (LZ) 420.4 6.9 462.9 6.8
Advisory and Business support activities (MN) 63.7 9.8 83.4 7.3

Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S)
49.1 3.1 56.3 2.7
Holdings 23.4 22.4 31.1 17.8
Total 1,038.0 6.6 1,343.3 7.3
Interest rates on new loans to non-financial corporations (exc. overdraft)
(Effective interest rates in the narrow sense, in percentages)
Aug. 18 Mar.19 Apr. 19 May 19 June 19 July 19 (a) Août- 19 (b)
- Credits < or = 1 million euros 1.71 1.65 1.66 1.65 1.62 1.60 1.57
- Credits > 1 million euros 1.28 1.51 1.52 1.31 1.33 1.51 1.36
(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 - August 2019

Loans by size of firms

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Loans by size of firms
  • Published on 10/09/2019
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Published on Wednesday, October 9, 2019