Eurozone Lending Growth Beats Expectations

Bank lending to households in the Eurozone rose 3% year-on-year to €7.112 trillion in December 2025, above market expectations of 2.9%. The increase reflects a continued recovery in credit demand, supported by the European Central Bank’s recent policy easing. Lending to businesses also grew 3%. Combined, overall credit growth to the private sector, covering both households and non-financial corporations, eased to 3.3% from 3.4%.

Bank lending to households in the Eurozone rose 2.9% year-on-year to €7.094 trillion in November 2025, marking the fastest pace since March 2023 and exceeding market expectations of 2.8%. The increase reflects a continued recovery in credit demand, supported by the European Central Bank’s recent policy easing. Lending to businesses also grew 3.1%, the most since June 2023. Combined, overall credit growth to the private sector, covering both households and non-financial corporations, accelerated to 3.4% from 3%.

Bank lending to households in the Eurozone rose 2.8% year-on-year to €7.07 trillion in October 2025, marking the fastest pace since March 2023 and exceeding market expectations of 2.6%. The increase reflects a continued recovery in credit demand, supported by the European Central Bank’s recent policy easing. Lending to businesses also grew 2.9%, matching September’s pace and remaining close to August’s near two-year high. Combined, overall credit growth to the private sector, covering both households and non-financial corporations, accelerated to 2.9%, representing the strongest expansion since April 2023.