2023-10-23 12:48:04
Banks are more cautious: German companies have recently found it more difficult to obtain loans. Only in one area is the trend going in a different direction.
München.
German companies are finding it more difficult to get loans. Almost every third company surveyed by the Ifo Institute reported banks’ reluctance in September, as the Munich economic researchers announced.
Specifically, it was 29.2 percent, an increase of 7.9 points since the last survey in June and only slightly less than the multi-year high of the so-called credit hurdle in December 2022.
“The banks are gradually increasing loan interest rates and are becoming more cautious about lending,” said Ifo expert Klaus Wohlrabe. “In economically weaker phases, companies also have to contribute more to securing loans.”
The increase was driven primarily by service providers, industry and retail, each of which reported significant deterioration and whose values are relatively close to the overall average for the economy. The situation in construction is similarly unfavorable – but here it was already in June. Only wholesale trade developed against the trend: here the credit hurdle fell to 20.2 percent. (dpa)
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