June 1, 2020 / 9:16 AM / a month ago

Spanish household lending slips 0.6% y/y in April due to COVID-19

MADRID, June 1 (Reuters) - Spain’s total stock of household lending fell 0.6% year-on-year in April, when the country was in full lockdown due to the novel coronavirus, data published by the Bank of Spain showed on Monday.

It was the second month in row that household lending registered a decline after easing 0.2% in March against the same month last year.

One of the worst-hit nations in the world by the pandemic, Spain imposed one of the strictest lockdowns in Europe on March 14 after declaring the state of emergency.

Lending to households stood at 697 billion euros ($775 billion) at the end of April compared to 703.7 billion in the same month last year, the central bank data showed.

Analysts had expected loans to households - including mortgages and consumer loans - to be most affected by the lockdown, which is now gradually being lifted.

However, loans to non-financial companies rose 3.1% in April year-on-year to around 920 billion euros thanks in part to the support of the up to 100 billion euros in state-backed credit lines aimed mainly at helping small and mid-sized companies weather the crisis.

It was the second month in row that corporate lending increased after rising 1.1% in March against the same month last year.

$1 = 0.8990 euros Reporting By Jesús Aguado, editing by Andrei Khalip; Editing by Toby Chopra

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