September 29, 2016 / 11:27 AM / a year ago

Euro zone loan demand still insufficient: ECB's Jazbec

LJUBLJANA, Sept 29 (Reuters) - Demand for loans in the euro zone remains weak, putting into doubt the business models of banks in Slovenia and the euro zone, European Central Bank Governing Council member Bostjan Jazbec said on Thursday.

The ECB has eased monetary policy aggressive in recent years to cut funding costs and revive lending but credit growth remains below 2 percent, well below historic trends for the bloc.

“The banking system is prepared to extend loans but there is insufficient demand and that raises questions about the business models of banks in Slovenia and the euro area,” said Jazbec, Slovenia’s central bank chief. (Reporting by Marja Novak; Writing by Balazs Koranyi; Editing by Toby Chopra)

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