Number of foreigners seeking bank loans rising

The proportion of foreign people in credit granted by banks grew between 2021 and 2022, representing more than 16% of credit granted to people between the ages of 41 and 50, and 45% to people over the age of 61, according to the Bank of Portugal. In total credit granted in Portugal in 2022, 11.4% went to people of foreign nationality (up from 9.36% in 2021); the majority of them Brazilians (25%), followed by Brits (10%). In home loans, foreign nationals accounted for 14% of the total amount borrowed (up from 10.81% in 2021).