Credit contraction slows to 1.6 pct in July, loan deductions jump to 638 mln

EconomyMacroeconomy Tags: Banking, BoG, Loans
Photo by MacroPolis
Photo by MacroPolis

Credit contraction in the Greek banking market decelerated to 1.6 percent in July from 2 percent in June, Bank of Greece (BoG) figures showed on Friday.

Meanwhile, the net additions of 479 million euros in June turned to net deductions of 638 million in July, the highest negative reading since March 2015.

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