German Corporate Loan Growth Back to Nil in February
German corporate loan growth came back to nil in February (in % yoy). The growth rate was therefore lower than in January, when it was still in positive territory at +0.2% yoy. While this is in line with the trend at EU-level it is surprising nonetheless given the Bundesbanks recent upbeat statement about economic growth in Germany at the beginning of the year. The same question as to EU-corporate lending applies: Is this just a set back or a reversal in corporate lending growth. It will also be interesting to see, how Russian/Ukranian ‘turbulances’ will impact March/April lending numbers.
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