According to preliminary figures, the institutes expanded their lending business in 2021 compared to the previous year by almost seven percent to 710 billion euros, as the Federal Association of German Volksbanks and Raiffeisenbanks (BVR) announced on Monday in Berlin.
(Photo: dpa)
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Frankfurt The German cooperative banks extended more loans to the economy in the second corona year. According to preliminary figures, the institutes expanded their lending business in 2021 compared to the previous year by almost seven percent to 710 billion euros, as the Federal Association of German Volksbanks and Raiffeisenbanks (BVR) announced on Monday in Berlin. In business with private customers, the plus is a good six percent, with corporate customers and other customers a little more than seven percent. The financial institutions had also increased their lending in the first corona year.
“Especially the middle class has proven to be robust in the corona crisis and as the engine of the incipient economic recovery phase,” explained BVR President Marija Kolak. Despite the ongoing uncertainties about the further development of the pandemic, the credit risks are still assessed as low and easily manageable.
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