BUSINESS

Greek credit contracts 1.6 pct y/y in November

TAGS: Finance

Total credit in Greece's banking system contracted 1.6 percent year-on-year in November after a 1.5 percent decline in the previous month, Bank of Greece data showed on Friday.

Credit extended to the government fell 5.1 percent after decreasing by 4.9 percent in October, the central bank said.

Lending to businesses and households declined 0.9 percent after a 0.9 percent drop in the previous month. [Reuters]

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