Credit contraction slows to 1.3 pct in Sept, balance at 176.83 bln

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

Credit contraction in the Greek market came to 1.3 percent in September compared to a contraction of 1.5 percent in August, Bank of Greece (BoG) figures showed on Thursday.

The Greek market has been experiencing a contraction for the last six years, with the loan balance down by over 31 percent on the back of continued deleveraging. Net deductions since 2011 have reached around 44 billion euros.

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