Quarterly asset growth rate of EU banking industry 2007-2023
After a significant drop during COVID-19, the asset growth rate of the European Union's banking sector stabilized in 2021 and remained between three and five percent until the second quarter of 2022. In the third quarter of 2022, growth rate increased above five percent for the first time since the beginning of 2021, before dropping to 1.34 percent in the fourth quarter. In 2020, the assets of EU banking industry declined in every quarter, each quarter having measured lower growth rates than in any other quarters during the observed period. The asset growth rate of the EU banking industry turned negative in 2023. Moreover, the asset growth rate of the U.S. commercial banking industry also turned negative in 2023.
