Loan demand continued to increase across all loan categories, while credit supply conditions remained unchanged for enterprises and improved for households

The general low level of interest rates played an important role in contributing to demand for loans to enterprises and households

Continued compression of lending rates on all loan categories

Banks used the liquidity obtained from the ECB's expanded asset purchase programme (APP) for granting loans, for refinancing purposes and to a lesser extent for purchasing assets

The ECB's negative deposit facility rate continued to have a positive impact on lending volumes, while having a negative impact on loan margins and banks' net interest income