OeNB Sees No Signs for Credit Crunch

BusinessEconomy ♦ Published: December 21, 2011; 16:05 ♦ (Vindobona)

The Austrian Central Bank reports a stable development of new lending. The volume of new corporate and private loans is growing at 2% each.

OeNB Sees No Signs for Credit Crunch / Picture: © Vindobona.org

The volume of new loans granted to Austrian companies by domestic banks has increased further in the year 2011. The recovery has slowed down, however: Since July 2011, the annual growth rate of new lending has stagnated at about 2% which is still significantly lower than before the outbreak of the financial crisis. Broken down by sectors, new lending to companies in the manufacturing…