So far, the ECB’s policy measures and the relevant Greek policies have supported bank lending to corporates, which has increased substantially, while credit standards have remained broadly stable. A large net flow of loans – above € billion – was registered in July, supported in particular by the guarantee scheme of the Hellenic Development Bank.
At the same time, Greek small and medium-sized enterprises continue to have serious concerns about their lack of access to financing. Their financing gap remains high, despite the increased availability of bank loans and the decline in interest rates. In order to underpin the recovery, policy support remains necessary to safeguard the continued supply of credit.