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Financial News: Eurozone Bank Lending To Businesses Picks Up

Eurozone Bank Lending To Businesses Picks Up

01/27/2017 - 05:24:00 (RTTNews)

(RTTNews) - Eurozone banks lent funds to businesses and households at a faster pace in December, figures from the European Central Bank showed Friday.

Lending to businesses grew an adjusted 2.3 percent year-on-year following a 2.1 percent increase in November. Loan growth was the fastest since June 2009, when there was a 3.1 percent gain.

Loans to households increased an adjusted 2 percent after a 1.9 percent increase in November. The growth was the strongest since June 2011, when lending rose 2.1 percent.

The annual growth rate of the broad monetary aggregate M3 increased to 5.0 percent from 4.8 percent in November. Economists had forecast 4.9 percent growth.

The narrower aggregate M1, which includes currency in circulation and overnight deposits, increased 8.8 year-on-year in December versus 8.5 percent in November.

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