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Loans by size of firms 2021Nov

Published on 01/07/2022
Outstanding business loans have increased by 14.6% in the last two years
  • At the end of November 2021, loans mobilized by companies reached EUR 1,214.3 billion, up to +1.5% year-on-year, after a +2.3% increase at the end of October. Over two years, the growth rate is 14.6% compared to November 2019 against 14.9% compared to October 2019.

  • The trend towards deleveraging over one year by large companies and ISEs keeps on: for LEs - 5.0% in November 2021 compared with - 3.9% in October 2021 and for ISEs - 3.9% in October 2021 compared with - 2.9% in September 2021. For SMEs, credit growth remains positive but moderates compared to last month at +3.9% in November 2021 compared to +4.8% in October 2021. Over two years, credit growth rates remain higher at 4.8% for LEs, 2.9% for ISEs and 24.6% for SMEs.

  • The growth of credit was driven in particular by the real estate activities (+6.6%) and information and communication sector (+6.0%). On the other hand, the weakest growth is reported in the manufacturing sector (-6.4%) and the trade sector(-6.1%).

  • The rate on new loans up to EUR 1 million is unchanged to 1.36 %. The rate on new loans of more than EUR 1 million decreases by 13 basis points to 1.29 % (down from 1.42 % in October).
Outstanding amounts of loans to resident enterprises by size (*)
(Outstanding amounts in EUR Bn, annual growth rate in %)
Drawn credits
Number of enterprises (**) Outstanding
amounts
Annual growth rate
Nov. 21 Nov. 21 Nov. 21 / Nov. 20 Oct. 21 / Oct. 20 Nov. 21 / Nov. 19 Oct. 21 / Oct. 19
SME 1,317,304 534.7 3.9 4.8 24.6 24.8
ISE 6,420 312.4 -3.9 -2.9 2.9 4.5
Large Firms 281 158.1 -5.0 -3.9 4.8 3.7
Total
(exc. non-trading real estate companies and others)
1,324,005 1,005.2 -0.1 0.9 13.8 14.2
non-trading real estate companies and others (see Additional) 652,417 209.1 10.0 10.1 18.5 18.5
All enterprises 1,976,422 1,214.3 1.5 2.3 14.6 14.9
(*) 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 Growth rates Outstanding amounts Growth rates
Nov. 21 Nov. 21 / Nov. 20 Nov. 21 / Nov. 19 Nov. 21 Nov. 21 / Nov. 20 Nov. 21 / Nov. 19
Agriculture, forestry and fishing (AZ) 59.8 3.4 9.7 68.1 3.3 8.8
Industry (BE) 146.6 -4.5 5.7 245.6 -6.8 7.2
- inc. Manufacturing (C) 113.5 -6.4 4.9 184.1 -11.1 4.9
Construction (FZ) 68.6 -0.9 19.4 106.3 2.8 19.7
Wholesale and retail trade; repair of motor vehicles and motorcycles (G) 168.1 -6.1 11.7 234.0 -6.9 8.1
Transportation and storage (H) 57.6 -2.8 14.5 72.8 -3.5 11.4
Accommodation and food service activities (I) 46.3 2.2 37.0 50.6 1.4 31.4
Information and communication (JZ) 28.6 6.0 29.0 51.6 0.4 6.6
Real estate activities (LZ) 478.2 6.6 12.4 525.6 6.9 12.2
Advisory and Business support activities (MN) 81.2 1.0 27.8 101.0 1.8 25.0

Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S)
57.6 0.0 18.5 67.2 3.6 20.6
Holdings 21.8 19.7 45.4 26.3 19.6 36.4
Total 1,214.3 1.5 14.6 1,549.0 0.7 12.8
Interest rates on new loans to non-financial corporations (exc. overdraft)
(Effective interest rates in the narrow sense, in percentages)
Nov- 2020 Jun-2021 juil. 2021 Aug-2021 Sep- 2021 Oct- 2021 (a) Nov- 2021 (b)
- loans < or = 1 million euros 1.29 1.31 1.36 1.37 1.35 1.36 1.36
- loans > 1 million euros 1.30 1.26 1.49 1.30 1.40 1.42 1.29
(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 :
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).
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 - November 2021
Loans by size of firms

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Loans by size of firms
  • Published on 01/07/2022
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Published on Friday, January 7, 2022