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% on a yearly basis, following an increase of 3.5% in April.
Within the non-financial private sector, loans to households advanced 3.1% after a 3.0% rise. The annual increase in loans to non-financial corporations rose to 4.0% from 3.4 percent.
The broad monetary aggregate M3 rose at a pace of 3.2% after climbing 2.7% in April. At the same time, narrow-measure M1 growth climbed to 4.0% from 3.8%.
