# Euro-area private credit growth | PIER20 benchmarks

How quickly is private credit expanding across the euro area?

Euro-area private credit growth tracks household, mortgage and NFC loan growth. It uses monthly data.

The latest data is from **June 2026**. The latest reading is **2.96%**. The Household loans YoY line is up 1.0 pp over the past year. It is above its long-run median of 2.56%.

## Summary statistics (full history)

| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| Household loans YoY | 1.66 | 2.96 | 0.04 | 3.95 |
| Mortgages YoY | 1.62 | 3.21 | 0.27 | 5.12 |
| NFC loans YoY | 0.10 | 4.12 | -0.70 | 6.15 |
| Private credit composite | 0.88 | 3.54 | -0.13 | 4.76 |

## Last 24 readings

| Date | Household loans YoY | Mortgages YoY | NFC loans YoY | Private credit composite |
|---|---|---|---|---|
| Jun 2024 | 0.15 | 0.33 | 0.22 | 0.19 |
| Jul 2024 | 0.24 | 0.42 | 0.10 | 0.17 |
| Aug 2024 | 0.35 | 0.52 | 0.46 | 0.41 |
| Sep 2024 | 0.49 | 0.64 | 0.74 | 0.62 |
| Oct 2024 | 0.62 | 0.71 | 0.78 | 0.70 |
| Nov 2024 | 0.73 | 0.84 | 0.69 | 0.71 |
| Dec 2024 | 0.91 | 1.03 | 1.26 | 1.08 |
| Jan 2025 | 1.06 | 1.19 | 1.50 | 1.28 |
| Mar 2025 | 1.45 | 1.60 | 1.82 | 1.64 |
| Apr 2025 | 1.68 | 1.83 | 1.93 | 1.80 |
| May 2025 | 1.81 | 1.99 | 1.87 | 1.84 |
| Jun 2025 | 1.99 | 2.16 | 2.06 | 2.03 |
| Jul 2025 | 2.14 | 2.32 | 2.22 | 2.18 |
| Aug 2025 | 2.24 | 2.41 | 2.47 | 2.36 |
| Sep 2025 | 2.34 | 2.53 | 2.30 | 2.32 |
| Oct 2025 | 2.40 | 2.59 | 2.44 | 2.42 |
| Nov 2025 | 2.51 | 2.68 | 2.53 | 2.52 |
| Dec 2025 | 2.63 | 2.81 | 2.38 | 2.51 |
| Jan 2026 | 3.08 | 3.17 | 2.60 | 2.84 |
| Feb 2026 | 3.15 | 3.22 | 2.74 | 2.94 |
| Mar 2026 | 3.10 | 3.20 | 3.03 | 3.07 |
| Apr 2026 | 2.89 | 3.15 | 3.45 | 3.17 |
| May 2026 | 2.93 | 3.22 | 4.05 | 3.49 |
| Jun 2026 | 2.96 | 3.21 | 4.12 | 3.54 |

## How to read this benchmark

**How to read it.** The composite averages household and company loan growth. The sector readings show where credit grows fastest and slowest.

## How this benchmark is used

**Why traders watch it.** Traders use this benchmark to compare credit growth across households and companies.

## Frequently asked questions

**What is the latest reading for Euro-area private credit growth?**

The latest data is from June 2026. The latest reading is 2.96%. The Household loans YoY line is up 1.0 pp over the past year. It is above its long-run median of 2.56%.

**How often does this benchmark update?**

The source publishes monthly data. PIER20 updates the page after each new observation. The chart shows the data date and fetch date.

**What data sources does this chart use?**

The European Central Bank Data Portal publishes the data. The methodology section lists each source series.

**Where does the data come from?**

The European Central Bank (ECB) publishes the source data. The source table lists each series and its exact link.

## Methodology

- Formula: Household, mortgage and NFC loan growth
- Frequency: Monthly
- Sources: Household loans YoY (household-loans-yoy) https://data-api.ecb.europa.eu/service/data/BSI/M.U2.Y.U.A20T.A.1.U2.2250.Z01.E; Mortgages YoY (mortgages-yoy) https://data-api.ecb.europa.eu/service/data/BSI/M.U2.Y.U.A22T.A.1.U2.2250.Z01.E; NFC loans YoY (nfc-loans-yoy) https://data-api.ecb.europa.eu/service/data/BSI/M.U2.Y.U.A20T.A.1.U2.2240.Z01.E; Private credit composite (private-credit-composite) https://data-api.ecb.europa.eu/service/data/BSI/M.U2.Y.U.A20T.A.1.U2.2250.Z01.E. Data via the European Central Bank Data Portal.
- Data through: June 2026
- Last refreshed: 11 Aug 2026

Full interactive chart: https://pier20.com/benchmarks/euro-area-private-credit-growth
Disclaimer: research software output, not investment advice.