Demand for loans remained almost unchanged in the second quarter of 2023 although demand from large enterprises increased slightly, driven by the favorable interest rates on loans co-financed with RRF. Overall demand for loans is expected to remain almost unchanged in the third quarter also, the Bank of Greece said on Tuesday.
However, demand for housing loans increased because of the state program “My House” for low interest rate loans. Demand for consumer credit remained almost unchanged. During the next quarter, overall demand for housing loans is expected to decrease, whilst demand for consumer credit is expected to remain unchanged.
In the second quarter of 2023, the credit standards for loans to non-financial corporations (NFCs) remained unchanged compared with the first quarter of 2023. Moreover, banks expect credit standards to remain unchanged during the third quarter of 2023.
The overall terms and conditions for loans to NFCs remained almost unchanged compared with the first quarter of 2023, although interest margins on average loans decreased somewhat.
Banks expect that, during the third quarter of 2023, credit standards for housing and consumer loans will remain unchanged.