Consumer loans hit record high

THE VOLUME of consumer loans provided by Slovak banks in March exceeded the record set last November. Slovaks borrowed €120 million in March through consumer loans, the highest amount since the introduction of the euro in 2009.

THE VOLUME of consumer loans provided by Slovak banks in March exceeded the record set last November. Slovaks borrowed €120 million in March through consumer loans, the highest amount since the introduction of the euro in 2009.

The annual growth was 17.8 percent, the TASR newswire wrote, citing information released by the National Bank of Slovakia on May 7.

Eva Sadovská, an analyst with Poštová Banka, told the Sme daily that she believes massive advertising campaigns by banks promoting loan consolidations were the reason for the record loan volume. Another reason behind the increase in the volume of consumer loans was stronger interest in loans for property reconstruction, Sme wrote.

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