Euro zone households continued to borrow at a brisk pace from their banks last month, European Central Bank data showed today.

Borrowers were lured by low interest rates and an economic rebound from the recent-pandemic induced slump.

Bank loans to households grew by 4% year on year in June, up from to 3.9% the month before.

They resumed an uptrend that had started in 2015 but was brought to an abrupt halt by the pandemic last year, the data showed.

New lending to euro zone companies in June, which had boomed at the height of the pandemic as cash-strapped companies drew down their credit facilities, grew by a more modest 1.9% in June, stable from May, the ECB added.