Eurozone bank lending falls again in April
The ECB said Thursday that loans to non-financial corporations across the 17 European Union countries that use the euro decreased by 1.9 percent from a year ago.
The European Central Bank says that lending by banks to companies fell in April, further evidence of a slack eurozone economy.
The ECB said Thursday that loans to non-financial corporations across the 17 European Union countries that use the euro decreased by 1.9 percent from a year ago, even worse than the 1.3 percent fall recorded in the previous month.Also read: RBI restricts banks lending against goldThe figures reflect the weak eurozone economy, which shrank a further 0.2 percent in the first quarter.The central bank says it is looking for ways to unclog bank lending to small and medium size companies. Early this month, it cut its benchmark rate to a record low of 0.5 percent. However, it says low rates are not being passed on by banks to companies. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
