Eurozone banks are slowly getting back on track as the demand for loans are increasing after a decade-long halt, which questioned the financial health of many banks. The ECB’s Bank Lending Survey says that some financial institutions are now easing credit standards for loans to enterprises.

The report polled more than 140 major financial institutions, and included questions relating to the bank’s current level of credit standards and the impact of EBC policy on some of the bank’s programs.

About 39 percent of banks predict a stronger demand for loans from companies in the coming months while 29 percent are expected to see a rise in house purchases.

“There have been substantial improvements in the level of credit standards compared with banks' indications one year ago,” the ECB said in its report.In recent years, borrowing from banks have been a difficult process, but the Bank Lending Survey indicates that at least 9 percent eased lending terms over the last quarter and one percent is expected to loosen their grips even further in the coming months.

In Italy, the news gets better. Of all the top Eurozone countries, Italy saw a major improvement with 25 percent of its banks reportedly easing credit standards over the last quarter. Moreover, 13 percent followed suit in the Netherlands and 7 percent in France.

A Yahoo news report claims that the ECB’s 1 trillion-euro stimulus program, which was rolled out in January 2015 is starting to gain some traction.  Almost half of the banks reported that the quantitative easing programs have helped enhance financing conditions and some of the money will be allocated towards loans.  

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