Euro zone lending to companies accelerated in October

FRANKFURT – Banks in the euro zone increased the pace of lending to companies last month and continued to extend credit to households at a brisk pace, data showed on Friday, in a sign of confidence in the bloc’s recovery.

Loans to companies grew by 2.5% year on year, the fastest pace since April, the European Central Bank data showed. Loans to household were up by 4.1%, the same pace as the month before.

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)