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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Lending to euro zone firms rebounds

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Frankfurt am Main: Growth in lending to companies in the euro zone rebounded in July following a slump in June, data from the European Central Bank showed on Monday.


Loans to non-financial corporations grew 2.4 per cent last month, adjusting for some purely financial transactions, the ECB recorded in a monthly statement. June had seen the pace of growth slump to 2.0 per cent from the 2.5 per cent achieved in May.


Meanwhile, expansion in lending to households maintained its 2.6 per cent rate in July, the same level as the previous two months.


Still in adjusted terms, overall growth in lending to the private sector picked up slightly, climbing from 2.5 per cent in June to 2.6 per cent in July. — AFP


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