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Greek Credit Expansion Remains Negative

Credit expansion in Greece continued in a negative status this April, experiencing a 2.4% contraction, as assessed by the National Bank of Greece.

The previous month experienced a 2.5% downfall compared to the same time period last year. The yearly local private sector bank funding contraction equalled 542 million euros, following a dip of 674 million euros during 2014's April, in comparison to a year prior, as reported by Kathimerini.

Private financiers and corporate funding contractions also suffered a reduction, while a minimal increase occurred in farmers and self-employed financing. A 261 million euro decrease was felt in corporate funding. Farmers and self-employed individuals were granted loans totaling 1 million euros more than in 2014.