It has become somewhat easier for companies to get new loans. In December, 25.6 percent of companies currently conducting negotiations reported reluctance from banks, according to a survey by the Ifo Institute published on Thursday. In September it was 29.2 percent.
“The banks remain cautious when granting loans,” said Klaus Wohlrabe, head of the Ifo surveys. “The high key interest rates and the uncertainty among companies with regard to economic development are also reflected in the banks’ lending practices,” he added.
The decline in the “Ifo credit hurdle” was primarily due to service providers (from 31.5 to 25.7 percent) and to construction (from 29.4 to 19.9 percent). In industry, the indicator fell by almost two percentage points to 25.6 percent. In retail, the share remained unchanged at 28.2 percent.
The economic situation of many retailers remains difficult due to customers’ reluctance to buy. This is also reflected in the credit conditions: in wholesale, the ratio rose from 20.2 to 26.9 percent. In general, it is easier for larger companies to get loans. For the self-employed and small businesses, the credit hurdle is 45.7 percent.
dts news agency
Photo: Skyline of Frankfurt / Main (archive), via dts news agency
2024-01-18 18:58:15
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