Greece Among Eurozone Leaders in Credit Expansion

According to data from the European Central Bank (ECB), Greece holds one of the top positions in the Eurozone regarding credit expansion. In June, the annual rate of credit expansion for loans to non-financial corporations was 16.6%, the second highest in the Eurozone.

Disbursements of new loans to small and medium-sized enterprises (SMEs) are increasing. New business loans to SMEs from the four systemic banks in the first half of the year grew at a rate of nearly 16%, reaching €1.21 billion. These loans concern businesses with an annual turnover of up to €2.5 million.

Greece's rate is six times the average annual rate of credit expansion to non-financial corporations for the entire Eurozone, which is 2.7%. Lithuania ranks first with 19.2%, followed by Greece with 16.6%, Croatia with 12.2%, and Estonia with 11.2%.