Austria: „El Dorado for Borrowers“

CommentOpinion ♦ Published: January 4, 2014; 15:23 ♦ (Vindobona)

According to Bank Austria´s management board member Dieter Hengl, Austria is an oasis for borrowers. Interest rates have reached an all-time low.

Austria: „El Dorado for Borrowers“ / Picture: ©

Despite the favorably low interest rates, corporate loans have declined substantially in 2013. According to the Austrian National Bank, this is mainly due to the weak economic growth.

However, also lending conditions are difficult. Above all, enterprises have to provide more securities to their lenders, Creditreform says. “Austrian creditors are still very cautious and not very…