Rate of credit contraction edges up to 1.6 pct in Oct

EconomyMacroeconomy Tags: Banking, BoG, Loans

Greek bank credit contraction accelerated slightly to 1.6 percent in October from 1.5 percent in September, Bank of Greece (BoG) figures showed on Thursday.

The net lending flow remained negative for the fourth straight month, with net deductions rising to 412 million euros in October from 293 million in September. The majority of October loan deductions came from the corporate sector (224 million). Househo...

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