Euro zone companies tapped bank credit in June even as economy reopened

Published 27/07/2020 in Business News, Economy & Finance

Euro zone companies tapped bank credit in June even as economy reopened

FRANKFURT (Reuters) – Euro zone companies continued to tap bank credit at a brisk pace in June even as the economy reopened after three months of coronavirus-related lockdown, data from the European Central Bank showed on Monday.

Lending to non-financial corporations in the euro zone grew 7.1% year on year last month, only a slight deceleration from the 7.3% recorded in May, which was the biggest increase since early 2009.

Household lending growth, meanwhile, held steady at 3.0% for a third consecutive month.

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