Bank credit contracts by 1.6 pct in Oct on loan deductions of 308 mln

EconomyMacroeconomy Tags: Banking, BoG, Loans, NPLs
Photo by Panayiotis Tzamaros/Fosphotos
Photo by Panayiotis Tzamaros/Fosphotos

The rate of credit contraction in the Greek market slowed slightly to 1.6 percent in October from 1.7 percent in September, Bank of Greece (BoG) figures displayed on Monday.

Deductions in the consumer credit sector notably dropped to just 7 million in October after peaking at 121 million in the previous month. The outstanding balance fell below the 25-billion mark and landed at 24.95 billion euros at the end of October. 

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