Outstanding corporate loans reached a new record in September 2017, amounting to 145.5 billion euros, a 6.4-percent increase on the previous year, the financial sector federation, Febelfin, reported on Wednesday in its quarterly corporate loans barometer. Febelfin explained that increased corporate confidence had led to an increase in loan applications, up 5%, and in the amounts requested, which went up by 6.5%.
However, the number of loans granted was 4.1% lower than in the corresponding period of 2016, while the amounts lent totalled 3% less.
Generally, the number of rejected loan applications is highest during the third quarter.
“These figures show the importance of a solidly backed loan portfolio, including when everything is going well on the economic plane,” Febelfin noted.
The average interest rate on corporate loans remains stable at 1.67%. “The low interest rates thus continue to support the growth in loans, the federation said.