Financing flows to Euro area NFCsBank financing flows to Eurozone companies slowed, while market flows increased. Net bank lending to eurozone corporates, measured on a year-on-year basis, declined in May 2025 (-6% m/m) to EUR 87 billion. Excluding the crisis period, however, this level remains relatively high. By contrast, net debt securities issuance, measured on a year-on-year basis, picked up significantly in May (+57% month-on-month), albeit from low levels. Over the coming months, the stabilisation of interest rates at a higher level than during the low-interest rate era should be more favourable to bank financing.
France: Growth rate of outstanding loansBank financing flows to eurozone companies slowed, while market flows increased. Net bank lending to eurozone corporates, measured on a year-on-year basis, declined in May 2025 (-6% m/m) to EUR 87 billion. Excluding the crisis period, however, this level remains relatively high. By contrast, net debt securities issuance, measured on a year-on-year basis, picked up significantly in May (+57% month-on-month), albeit from low levels. Over the coming months, the stabilisation of interest rates at a higher level than during the low-interest rate era should be more favourable to bank financing.