EUROZONE BANK LENDING TO BUSINESSES PICKS UP

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VIENNA (Alliance News) – Eurozone banks lent funds to businesses and households at a faster pace in December, figures from the European Central Bank showed Friday.

Lending to businesses grew an adjusted 2.3% year-on-year following a 2.1% increase in November. Loan growth was the fastest since June 2009, when there was a 3.1% gain.

Loans to households increased an adjusted 2% after a 1.9% increase in November. The growth was the strongest since June 2011, when lending rose 2.1%.

The annual growth rate of the broad monetary aggregate M3 increased to 5.0% from 4.8% in November. Economists had forecast 4.9% growth.

The narrower aggregate M1, which includes currency in circulation and overnight deposits, increased 8.8 year-on-year in December versus 8.5% in November.

Copyright RTT News/dpa-AFX

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