Eurozone: the credit revival continues into the first quarter of 2016


An ECB study of 141 Eurozone banks shows that despite turbulent financial markets, the rebound in credit has continued through the first quarter of 2016.

Banks reported an easing of lending conditions for both corporate and consumer credit as well as greater demand for loans. Only mortgage conditions have tightened, due to a European Directive requiring a heightened assessment of clients’ credit worthiness. In the report, banks’ forecasts suggest the credit improvement is set to continue.


Our Analysis

The easing of lending conditions together with higher demand for loans and the measures the ECB announced in March should boost the upturn in credit, which we believe is one of the key elements in the Eurozone’s economic recovery.

The opinion expressed above is dated April 22nd, 2016 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.