Big Banks Ramp Up Business Lending. First Time in Two Years (Misc News: December 30, 2010)
At the same time Michigan credit unions are seeing strong growth in member business lending, The Wall Street Journal reports that big banks are getting back into the act seeking to attract customers and business from competitors.
In an article titled “Banks Open Loan Spigot – Uptick in Lending to Business Is Expected to Accelerate Next Year,” the Journal said banks’ commercial and industrial loans have declined for two years, but have inched upward during the last two months.
The newspaper quoted Moody’s Analytics as saying that commercial and industrial lending had grown by 0.2 percent in the third quarter, the first quarterly increase in two years. Moody’s predicts such lending will grow by 3 percent for the year.
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