Key findings from the ECRI Statistical Package 2020. CEPS ECRI Statistics 05 Oct 2020.

Musmeci, Roberto and Kommuri, Nagesh (2020) Key findings from the ECRI Statistical Package 2020. CEPS ECRI Statistics 05 Oct 2020. UNSPECIFIED.

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Abstract

Key findings from the ECRI Statistical Package 2020 • In 2019, loans to EU households and non-financial corporations (NFC) increased by 2.5%. • For the fifth year in a row, total loans in non-euro area countries grew more than loans in euro area countries. • Compared to 2018, the growth rate of total loans in 2019 increased from 1.9% to 2.4% in the euro area, and in non-euro area countries the growth rate was from 2.8% to 3.7%. • Between 2018 and 2019, household loans in EU increased by 3.5% and non-financial corporations (NFC) loans increased by 1.2%. • Total household loans grew most in Bulgaria (+13.5%), Hungary (+12.3%), Malta (+10.0%), Poland (+8.1%), Slovakia (+8.0%) and Lithuania (+7.8%). The largest contractions were registered in Greece (-8.6%), Cyprus (-5.2%). • Hungary (+8.1%), Austria (+6.7%), Luxembourg (+6.7%), Finland (+6.6%), Bulgaria (+5.9%) and Germany (+5.7%) were among the member states with the largest growth rates in NFC loans. Significant reductions were registered in Greece (-11.8%), Cyprus (-9.0%), Italy (-7.0%) and Ireland (-5.6%). • Since the Covid-19 outbreak the transaction flows and outstanding amount of loans to non-financial corporations have increased significantly, while household loans transaction flows have fallen and loan growth stabilised.

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