ECB: Euro zone bank lending continues to surge amid crisis

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Lending to euro zone companies continued to surge in May as firms relied heavily on bank credit to stay afloat amid the continent’s coronavirus-related lockdown, data from the European Central Bank showed on Friday.

Lending growth to non-financial corporations accelerated to 7.3% in May from 6.6% a month earlier, its best rate since early 2009. Household lending growth meanwhile held steady at 3.0%.

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