The demand for loans decreased in the first quarter of the year due to the rise in the cost of servicing them
Demand for loans from both businesses and households fell in the first quarter of the year due to rising servicing costs.
According to the data of the Bank of Greece survey, the total demand business loans and in particular short-term loans decreased to a degree.
The main factor influencing the decrease in demand was the higher level of lending rates. In the next quarter, overall loan demand, mainly from SMEs, is expected to decline further.
As for the loans to householdsthe demand for mortgages decreased to some extent, with the main factors being the high level of lending rates and reduced consumer confidence.
The demand for Consumer loans remained almost unchanged. For the second quarter of 2023, demand for both housing and consumer loans is expected to remain almost unchanged.
Mortgage and consumer lending criteria are expected to remain largely unchanged during the second quarter of 2023.
Source: Skai
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.
