Austria: Lending Continues to Contract

Businessn.a. ♦ Published: October 31, 2012; 18:16 ♦ (Vindobona)

Austrian banks tend to remain rather cautious. The restrictions of company loans sharpen.

Austria: Lending Continues to Contract / Picture: © Vindobona.org

In the third quarter, Austrian banks again sharpened their lending conditions slightly. This is the result of a survey issued by Austrian National Bank OeNB. The main reason is the increasing economic uncertainty, the higher refunding costs and accounting restrictions. As a result, the margins were raised again.

The demand for business loans was decreasing significantly. At the…