Outstanding corporate loans totalled 145 billion euros at the end of June 2017 in Belgium, an increase of almost 5.8% over the preceding year and an all-time record, according to the latest quarterly barometre by the financial sector federation, Febelfin.
The total amount in new corporate loans increased by 3.2% in the second quarter, but the number of new loans decreased by 4.1%, noted Febelfin, while the number of loan applications remained stable (+ 0.1%), as did the total amount requested (0.8%).
The percentage of applications rejected in the second quarter of 2017 was higher than in the corresponding period of the three preceding years, “but is still lower than the level for the 2010-2013 period”, according to the federation.
“Febelin’s quarterly barometre of loans shows that banks granted a higher loan amount to companies in the second quarter of 2017,” said Luc Vansteenkiste, president of the Corporate Financing platform.
“Combined with a slight softening of loan conditions by the banks, the maintenance of the low average rate for new corporate loans and the historically high degree of utilization of loans granted, this evolution enabled outstanding corporate loans to attain a new record in the second quarter of 2017,” Vansteenkiste explained.