ARTICLE · 06 JUNE 2025

Lending & Secured Finance 2025

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While the Portuguese lending market continues to be impacted by the uncertainties of the current...

PortugalFinance and Banking

Alexandra Valente

João Santos Carvalho

Vasco Correia da Silva

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1. Overview

1.1 What are the main trends/significant developments in the lending markets in your jurisdiction?

While the Portuguese lending market continues to be impacted by the uncertainties of the current economic and political context worldwide, the market is seemingly benefitting from current cycle of interest rate reductions implemented by the ECB since June 2024.

The latest Bank Lending Surveys conducted by the Bank of Portugal show a slight decrease in the interest rate on loans granted to firms (for all firm sizes) as well as a slight increase in demand in certain types of loans. Bank lending criteria have remained broadly unchanged in loans to corporates (although slightly tighter for SMEs). Total new corporate lending transactions have increased in 2024 in comparison with 2023.

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