Czech lending up 8.87% in July 2011.

By bne IntelliNews September 2, 2011
The combined value of credits extended in the Czech Republic reached CZK 2.284tn (EUR 95bn) as of end-July 2011, up 8.87% y/y, according to data from the central banks monetary survey. Loans to the private sector grew by 5.62% to CZK 2.026bn. Compared to June, they rose by CZK 13bn. Corporate lending grew for the seventh month in a row and reached CZK 941.2bn, up 4.49% y/y and by almost CZK 8bn higher than in the previous month. Credits to Czech households moved up 6.62% y/y to CZK 1.085tn and compared to June they advanced by CZK 5bn. Net credit to the government sector stood at CZK 258.1bn as of end-July 2011, up 43.56% from a year ago but down by 0.03% from a month earlier. The money supply, measured by the M2 monetary aggregate, increased by 3.4% in July following a 2.9% y/y rise in June.

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