Eurozone: private sector lending returns to its 2010/2011 level


ECB data have confirmed a gradual rise in private sector Eurozone lending. In the past twelve months, it has risen by almost EUR 200 billion. The improvement can be seen in both business and household lending and is visible across the Eurozone. That said, in countries such as Spain the improvement is more a case of the contraction slowing down than an increase in lending.


Survey data on credit standards indicate that the rise in lending is likely to continue. This, combined with both brighter growth prospects and rising profits, could help to boost investment.

The opinion expressed above is dated March 14th, 2017 and is liable to change.

This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Frères Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Frères Gestion SAS.