Credit contracts at slower rate of 3.5 pct in May, balances down to 214.3 bln

EconomyMacroeconomy Tags: Banking, BoG, Loans

The year on year (YoY) credit contraction in the Greek market further decelerated to 3.5 percent in May from 3.7 percent in April, with balances easing to 214.35 billion euros, according to the Bank of Greece (BoG).

Although the YoY drop is the slowest since April 2013, the monthly net deductions rose to 963 million euros in May from 674 million in April. The monthly figure is the highest over the past 12 months and is largely attributed to corporate lending net de...

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