BNR: Non-governmental credit balance rose by 1.1% in March 2024

At end-March 2024, loans to non-government sector granted by credit institutions increased 1.1 percent (0.6 percent in real terms) from February 2024 to RON 387,979.8 million, informs the latest report by the National Bank of Romania (BNR). RON-denominated loans, representing 68.9 percent of total volume of loans to non-government sector, grew by 1.3 percent, whilst foreign currency-denominated loans, holding 31.1 percent of total loans to non-government sector, rose by 0.4 percent when expressed in RON (similar evolution when expressed in EUR).

In year-on-year comparison, loans to non-government sector advanced 4.7 percent (-1.8 percent in real terms), on the back of the 6.4 percent increase in RON-denominated loans (-0.2 percent in real terms) and the 1.1 percent rise in foreign currency-denominated loans expressed in RON (0.7 percent when expressed in EUR).

Credit to general government decreased by 1.4 percent in March 2024 from the previous month, to RON 215,800.3 million. In year-on-year comparison, this indicator grew by 20.3 percent (12.8 percent in real terms).

Deposits of non-government resident customers rose by 0.3 percent month on month to RON 584,458.6 million, while the annual growth rate was 11.4 percent (4.5 percent in real terms).

RON-denominated deposits of residents, representing 70.4 percent of deposits of non government customers, increased by 0.8 percent to RON 411,450.8 million month on month. In year-on-year comparison, they advanced by 17.0 percent (9.7 percent in real terms).

RON-denominated household deposits increased by 1.1 percent to RON 225,944.5 million month on month and by 21.8 percent (14.2 percent in real terms) year on year.

RON-denominated deposits of other sectors (non-financial corporations and non-monetary financial institutions) advanced by 0.5 percent (to RON 185,506.3 million) month on month and rose by 11.6 percent (4.7 percent in real terms) year on year.

Foreign currency-denominated deposits of residents, representing 29.6 percent of the total volume of deposits of non-government customers, decreased by 0.9 percent against February 2024 to RON 173,007.8 million when expressed in domestic currency (similar evolution when expressed in EUR). Compared to March 2023, this indicator rose by 0.2 percent when expressed in RON (-0.3 percent when expressed in EUR).

Foreign currency-denominated deposits of households decreased by 0.2 percent from February 2024 to RON 119,702.7 million when expressed in RON (similar evolution when expressed in EUR). In year-on-year comparison, the indicator dropped by 2.2 percent when expressed in domestic currency (-2.6 percent when expressed in EUR).

Foreign currency-denominated deposits of other sectors went down 2.3 percent against February 2024 to RON 53,305.1 million when expressed in RON (similar evolution when expressed in EUR).

Compared to March 2023, the indicator increased by 6.0 percent when expressed in RON (5.5 percent when expressed in EUR).