Eurozone Loans To Private Sector Increases At Faster Pace

(RTTNews) - Eurozone bank loans to the private sector increased at a faster pace in May, primarily due to the increase in lending to businesses, the European Central Bank said Monday.

Adjusted loans to the private sector grew 3.9 percent on a yearly basis, following an increase of 3.5 percent in April.

Within the non-financial private sector, loans to households advanced 3.1 percent after a 3.0 percent rise. The annual increase in loans to non-financial corporations rose to 4.0 percent from 3.4 percent.

The board monetary aggregate, M3 rose at a pace of 3.2 percent after climbing 2.7 percent in April. At the same time, the narrow measure M1 growth climbed to 4.0 percent from 3.8 percent.