Reversal of downtrend in credit demand

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Piles of coins

2014's final quarter was the first in years not showing a drop in credit demand. On the contrary, the number of credit applications edged up. And the total number of loans granted increased for the second quarter in a row.

The fourth quarter of 2014 saw 4,995 credit applications, which is marginally higher (0.10%) than in the previous quarter. Out of this total, 35% resulted in a credit agreement, as compared to Q3's conversion rate of 34.3%.

Ruut Meijer, Managing Director Commercial Clients at ABN AMRO says:

"We are pleased to see that credit demand has stopped declining. Against a backdrop of mild economic recovery, entrepreneurs are starting to consider investing again. Also, business plans are becoming more viable due to the recovery, which allows us to approve more applications. Broadly speaking, Dutch entrepreneurs are still cautious with their investments. Not surprising, when you take into account that SMEs have suffered some heavy blows in the past few years, and their equity has dwindled. We expect credit demand to continue rising if the economy keeps improving."

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