Bilbao, October 22 (.) – The cost of financing for Spanish companies continues to fall, as evidenced by the latest report, remaining below 5% for both SMEs and large companies. , in both cases lower than what their European peers are paying. Comments on this matter from the Basque Employers Association Confebask.
According to their data, Spanish small and medium-sized business credit prices remained stable in August. The interest rate on credits these companies paid for new business in the same month was 4.81%, while small and medium-sized enterprises in the euro area paid 5.16%.
As part of this, credit prices for large Spanish companies were reduced in August, with interest rates on new one-year loans now at 4.81%, compared with the 4.98% paid in the euro area.
New loans to businesses rose 16.4% through August, according to Confebus’ corporate lending analysis. This increase contrasts with the 3.6% decline recorded for all of 2023.
New credit to businesses reached an annualized rate of 403.114 billion euros through August, the highest amount since 2012.
The largest increase was seen in credit for small and medium-sized enterprises (SMEs), at 21.3%, compared with 11.9% for 2023 as a whole.
Meanwhile, new lending to large companies increased by 10.4% through August, compared with a 17.9% decline in 2023.
Confebus said these data come in the context of Euribor hitting a 22-month low in September and 10-year bonds hitting a two-year low, then hitting an all-time low of 81 basis points. He recalled that he had done so. January 2022.
Meanwhile, bank delinquency rates hit a new low in the second quarter of this year, at 4%, the lowest since 2008, according to a report by the Basque Employers Association.
The analysis also reflects that non-bank lending to non-financial companies in primary securities markets fell sharply by 45% in the first half of this year. This decrease is on top of 56% in 2023.
Meanwhile, the business delinquency rate in the first quarter of this year remained stable at 4.1%, the same level as recorded in the first quarter of 2023 and the lowest level since 2008.
