ECB: Eurozone companies find it increasingly difficult to secure bank loans - BGNES

Companies in the eurozone are finding it increasingly difficult to obtain bank loans as rising fuel prices and production costs put pressure on their finances, according to the European Central Bank’s (ECB) quarterly Survey on the Access to Finance of Enterprises (SAFE) for the third quarter. The net availability of bank loans to companies fell by 5% in the third quarter, compared with a 1% decline in the previous quarter, the ECB reported. The share of businesses reporting difficulties in obtaining bank loans rose to 7% in the three months to the end of September, up from 5% in the previous quarter. Almost half of the companies surveyed (46%) reported higher interest rates on bank loans in the third quarter, compared with 42% in the second quarter.