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Financial News: Eurozone Banks See Loan Demand Growth In Q4:

Eurozone Banks See Loan Demand Growth In Q4: ECB Survey

10/24/2017 - 09:30:00 (RTTNews)

(RTTNews) - Euro area banks expect the demand for loans from businesses and households to increase further in the final three months of this year, survey data from the European Central Bank showed Tuesday.

Net demand for loans to enterprises continued to grow in the third quarter up 15 percent after 14 percent in the previous three months, results of the latest quarterly ECB Bank Lending Survey showed. Banks expect a strong increase of 26 percent in the fourth quarter.

The demand for business loans were largely driven by the low interest rates and the increase in fixed investment.

Growth in demand for housing loans eased to 12 percent from 19 percent in the third quarter, while that for consumer credit rose to 17 percent from 11 percent.

Low interest rates, favorable housing market prospects and consumer confidence supported the demand growth for housing loans. Spending on durable goods, the low general level of interest rates and consumer confidence continued to underpin the demand for consumer credit.

Banks expect the demand for housing loans to nearly double in the fourth quarter to 23 percent. However, the demand for consumer credit is expected to ease to 16 percent.

Credit standards for business loans were broadly unchanged in the third quarter and the trend is expected to continue in the final three months of the year.

"Competitive pressure, banks' risk perceptions, and cost of funds and balance sheet constraints had an easing impact on credit standards on loans to enterprises in the third quarter of 2017, while banks' risk tolerance had a tightening impact," the survey report said.

Credit conditions for housing loans and consumer credit eased further in the third quarter and the trend is expected to continue for both.

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