Monday December 22, 2014 Search
Weather | Athens
13o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Credit decline will not exceed 2 pct if GDP rebounds

By Yiannis Papadoyiannis

Banks expect credit to continue shrinking in 2014, albeit at the slower rate of 2 to 3 percent, against a 4 percent contraction last year, with the latest Bank of Greece data showing a 3.83 percent yearly decline in loans issued in the first 11 months of 2013.

In the period from 2009 to 2013 the balance of loans to households and enterprises dropped by 39 billion euros due to the crisis, while deposits have fallen by 75 billion euros. Since end-2009 loans to enterprises have dropped by 26.3 billion euros, or by 20.2 percent, as in end-November 2013 the corporate loan balance stood at 103.7 billion, from 130.04 billion euros four years earlier.

Bank officials have told Kathimerini that if the economy confirms positive expectations for growth this year, the credit shrinking rate may be no more than 2 percent on an annual basis, with a return to credit expansion next year after five consecutive years of contraction, provided the general economic landscape remains favorable in 2015.

They warn, however, that should conditions take another negative turn, there will be a return to uncertainty and the economy will revert to a declining course, affecting credit flows with multiple consequences.

ekathimerini.com , Monday Jan 27, 2014 (22:22)  
Draghi starts squaring QE circle in month of persuasion for ECB
Euro shaky on ECB and Greece, dollar keeps edge
Political saga is harming liquidity
Bad timing for tenders as oil rates decline
Prosecutor gathers depositions in Independent Greeks ´bribe´ probe
Comedian Lakis Lazopoulos is due to give evidence today as part of the investigation into claims by Independent Greeks that there was an attempt to bribe one of their MPs. The lawmaker in qu...
Government accuses SYRIZA and Independent Greeks of ´clear alliance´
Government spokeswoman Sofia Voultepsi accused SYRIZA on Monday of forming a “clear alliance” with Independent Greeks to prevent a president from being elected, which would lead to snap elec...
Inside News
SOCCER
Special day for Abidal, lucky one for PAOK
PAOK scraped through its Livadia challenge beating Levadiakos to remain on top of the Super League for Christmas, one point ahead of Olympiakos that enjoyed a great game at Kalloni and offer...
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
Inside Sports
INTERVIEW
‘Crisis of confidence will come back again and again,’ says Thomas Piketty
He’s treated like a rock star wherever he goes to lecture. His book “Capital in the 21st Century,” a study on income and wealth inequality from the 18th century to the present, recently tran...
COMMENTARY
Who lost Greece
If Greece collapses much will be said about where the fault lies. Sure, we all know the failings of Greek politicians. That said, much of the blame lies with outsiders who pushed Greece beyo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Prosecutor gathers depositions in Independent Greeks ´bribe´ probe
2. Government accuses SYRIZA and Independent Greeks of ´clear alliance´
3. Draghi starts squaring QE circle in month of persuasion for ECB
4. Euro shaky on ECB and Greece, dollar keeps edge
5. Special day for Abidal, lucky one for PAOK
6. Political saga is harming liquidity
more news
Today
This Week
1. Euro shaky on ECB and Greece, dollar keeps edge
2. Draghi starts squaring QE circle in month of persuasion for ECB
3. Government accuses SYRIZA and Independent Greeks of 'clear alliance'
4. Prosecutor gathers depositions in Independent Greeks 'bribe' probe
5. Greek PM offers compromise solution with elections by end-2015
6. Who lost Greece
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. High stakes
3. Europe's drama in Greece needs final act to avoid tragedy
4. A friendly yet firm message from Pierre Moscovici
5. On the edge but not gutless
6. Girl, aged 11, gives birth on Crete
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.