The findings were contained in the CBN’s latest quarterly Credit Conditions Survey, which tracks developments in household and corporate lending, credit demand, loan pricing and default rates across the banking industry. According to the survey, banks reported an increase in the proportion of approved applications for secured household loans, unsecured household loans and corporate credit during the period. Demand from small businesses recorded the strongest increase during the quarter, rising by 26.5 index points. The spread on unsecured household lending narrowed to 7.8 index points, while the spread on secured household lending widened to minus 4.5 index points. The CBN’s quarterly Credit Conditions Survey captures the views of participating lenders and provides an indication of trends in credit demand, loan approvals, pricing and defaults.