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Bank Lending Survey (BLS): Q4 2021

01/02/2022 - Press Releases

  • The credit standards and the terms and conditions for loans to non-financial corporations (NFCs) remained unchanged in the fourth quarter of 2021. The overall demand for corporate loans increased somewhat.
  • The credit standards as well as the terms and conditions for loans to households remained unchanged. The demand for consumer credit remained unchanged, while the demand for housing loans increased somewhat.


Loans to non-financial corporations

In the fourth quarter of 2021, the credit standards for loans to non-financial corporations (NFCs) remained unchanged (see Chart 1) compared with the third quarter of 2021, in line with the expectations expressed in the previous quarterly survey round. Moreover, banks expect that credit standards will remain unchanged during the first quarter of 2022.

The overall terms and conditions for loans to NFCs remained unchanged compared with the third quarter of 2021.

The overall demand for loans to NFCs increased somewhat (see Chart 2) in order to satisfy financing needs for both fixed investment and working capital. During the next quarter, the overall demand for loans to both small and large corporations is expected to increase somewhat.

In the fourth quarter of 2021, the ratio of rejected applications for loans to NFCs remained almost unchanged compared with the previous quarter (see Chart 3).


Loans to households

In the fourth quarter of 2021, the credit standards as well as the terms and conditions for loans to households remained unchanged compared with the third quarter of 2021 (see Chart 1), in line with the expectations expressed in the previous quarterly survey round.

The demand for consumer credit remained unchanged (see Chart 2) contrary to the positive expectations that had been expressed in the previous survey round. On the contrary, the overall demand for housing loans increased somewhat, driven by the improvement in consumer confidence, the favorable level of interest rates and the brighter prospects in the housing market. During the next quarter, the overall demand for housing loans and consumer credit is expected to increase somewhat.

Banks expect that credit standards for loans to households will remain almost unchanged during the first quarter of 2022.

The ratio of rejected applications for loans to households remained almost unchanged during the fourth quarter of 2021 (see Chart 3) compared with the previous quarter.


Chart 1 - Credit Standards (Average)

 

Chart 2 - Demand (Average) 

 

Chart 3 - Share of rejected applications (Average)

 

Related information:

The next Press Release on the “Bank Lending Survey” for Q1 2022 will be published on 12 April 2022, in accordance with the Advance release calendar published on the Bank of Greece website.


Related links:

More on the Bank Lending Survey

Methodology

 

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