Euro area loan growth edges up in April on stronger corporate lending

Investing.com -- Euro area-adjusted loan growth reached 3.2% year-over-year in April, up from 3.1% in March, according to European Central Bank data released Monday.

Corporate loan growth improved to 3.4% year-over-year from 3.2% in March, driven mainly by France, Italy and Germany, Jefferies said in a note. Household lending growth remained stable at 3.0% year-over-year.

Among the largest eurozone economies, France posted corporate loan growth of 4.2% year-over-year versus 3.7% in March. Italy recorded 3.4% year-over-year growth from 3.1%, while Spain saw 4.5% compared with 4.7% the previous month. Germany's corporate lending contracted 0.1% year-over-year, an improvement from March's 0.3% decline.

For household lending, Germany's growth rate held steady at 2.0% year-over-year, while France increased to 1.4% from 1.3%. Italy's household lending grew 2.6% year-over-year, down slightly from 2.7%, and Spain posted 5.1% growth versus 5.0% in March.

Portugal, Greece and Ireland recorded the highest overall lending growth rates in the eurozone, while France, Austria and Germany showed the lowest growth.

Deposit growth across the euro area slowed to 4.4% year-over-year in April from 5.2% in March. Household deposits grew 3.7% year-over-year, up from 3.6%, while corporate deposit growth declined to 4.5% from 4.9%.

Consumer lending growth eased to 6.0% year-over-year in April from 6.2% in March, while mortgage growth remained unchanged at 3.2% year-over-year.

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