Eurozone Bank Lending Terms Eased In 2016: ECB Survey
Umer Jamshaid Published January 17, 2017 | 03:30 PM
FRANKFURT AM MAIN, , (UrduPoint / Pakistan Point News - 17th Jan, 2017 ) - Eurozone banks offered borrowers easier repayment conditions in the final quarter of 2016 but became pickier about the businesses they granted loans to, a European Central Bank survey released Tuesday showed.
"Net easing of banks' overall terms and conditions on new loans continued across all loan categories," as in previous quarters, the central bank said in a statement. Meanwhile, appetite for credit continued to grow, the survey of loan officers at 139 eurozone banks carried out in December found.
Both small and large businesses were looking to borrow more money in the fourth quarter, with the survey recording a 16-percent increase in demand compared with 11 percent between July and September.
The ECB pointed to low interest rates, plans for mergers and debt refinancing as the main drivers of demand for credit among businesses. Low interest rates, a housing market trending upwards and high confidence also increased appetite for home loans among consumers.
But "banks' lower willingness to tolerate risk was the main factor" in a slight tightening of credit standards for firms, the ECB report said. "This was the first net tightening since the fourth quarter of 2013," the central bank noted in its statement. The ECB said the trend was driven mainly by the Netherlands.
Related Topics
Recent Stories
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
More Stories From Business
-
Shipping Activity at Port Qasim
1 hour ago -
Machinery equipment assembling grew by 70.98% in 08 months
2 hours ago -
Gold rates up by Rs.2,500 per tola to Rs245,000
2 hours ago -
Miner Anglo American rejects BHP's $38.8 billion takeover bid
3 hours ago -
Exchange rates for currency notes
5 hours ago -
Foreign exchange rates
6 hours ago
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
6 hours ago -
Today Gold Rate in Pakistan 26 April 2024
6 hours ago -
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
15 hours ago -
Pak-US officials engage to enhance trade, investment ties
16 hours ago -
Stocks fall as tech shares sink, US economy slows
17 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
18 hours ago