Strong Growth in Lending to Private Households

Business › Economy ♦ Published: September 1, 2011; 13:18 ♦ (Vindobona)

Loan development in the second quarter: Total lending volume grows; opposing trends are registered for new loans to enterprises and private households.

Strong Growth in Lending to Private Households / Picture: © Vindobona.org

According to data of the Austrian National Bank (OeNB), the volume of outstanding loans to private households grew by € 1.3bn to € 137.4bn in the second quarter of the year. It was the strongest increase since the end of 2007. The annual growth rate for June 2011 was 2.0%, 0.8 percentage points higher than in the previous quarter. Due to the rise of the Swiss franc exchange rate,…

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