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Asnef Says Lending Return Will Be “Slow & Gradual”

14/05/2014 – Expansion

According to EFE, Spanish banking entities specialized in consumer loan granting tell that improvement in lending will come “slowly and progressively” and they admit the role of credits as “a lever” for consumption reactivation.

This conclusion opens the report by Spanish Lenders Association (or Asnef) titled “Consumer Loan as the Lever for Recovery”.

With the property bubble burst and arrival of the recession, many households in Spain decided to cut in consumer expenditures and save big part of their income. As per Asnef, the situation “seems to be changing”.

For that reason, an improvement in lending to individuals and companies is thought to be round the corner thanks to rise in disposable income, slowdown in housing prices fall and creation of new jobs.

The report´s authors explain that the crisis changed the bank´s priorities and strategy as they had to adapt to new requirements and enviromental features.

 

Original article: Expansión

Translation: AURA REE