Investor Presentaiton
Loans continued growing driven by strong mortgage dynamics, despite the recent
normalization. Deposits reached historically high levels
Total loans (€ bn)
232.2
231.9
227.1
227.1
225.2
YOY
(%)
3.4
3.6
3.1
2.5
2.5
Jun-21
Sep-21 Dec-21
Jun-22
Aug-22
Total customer deposits (€ bn)
287.5
287.8
273.8
264.9
268.6
8.1
8.6
8.5
YOY
7.2
7.4
(%)
Jun-21 Sep-21
Dec-21
Jun-22
Aug-22
Household credit demand continued to be driven by new mortgage
production strong dynamics, with monthly new business around
€1.3bn, gradually normalizing.
New loans to Corporates are also decelerating, with the monthly
average declining to below €2bn in Q3.
The stock of deposits continued to mark new record highs, with
household deposits registering a resilient YoY growth of around 6%,
while corporate deposits increased by 10% YoY in August.
Santander Source: Statistics Portugal, Ministry of Finance, Santander Portugal forecasts and estimates.
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