Investor Presentaiton
CAJA RURAL
DE NAVARRA
Operational Environment
Private sector leverage
2/7 OPERATIONAL ENVIRONMENT
Household leverage in selected European countries (as of Q3 2022 in %)
Non-financial companies' leverage in selected European countries
(as of Q3 2022 in %)
Debt/Income
Debt/GDP
Debt/Income Eurozone
...Debt/GDP Eurozone
200
180
160
140
120
100
80
60.
40
20
HT
0
Netherlands Ireland
France
Spain
Portugal Germany
Italy
Source: European Central Bank
150
100
50
Debt/GDP
Leverage
Debt/GDP Eurozone
...Leverage Eurozone
th
Netherlands Ireland
France
Spain
Portugal
Germany
Italy
Source: European Central Bank
Spanish domestic private sector has deleveraged steadily since the end of the global financial crisis of 2008, gradually reducing the high debt
burden accumulated during the preceding years. In 2020 the pandemic triggered an increase in leverage because of a sharp drop in GDP and
an increase in state-guaranteed corporate loans. However, leverage metrics for both households and non-financial corporations were still well
below the euro area average as of September 2022.
Caja Rural de Navarra Investor Presentation 14View entire presentation