Household deposits in domestic currency recorded a significant increase of over 10 pc last month

Deposits of non-government resident customers added RON 33.8 million month-on-month to RON 258,529.6 million in September 2016, National Bank of Romania (BNR) announced on Tuesday, a press release informs.

At the same time, RON-denominated household deposits increased by 0.2 percent to RON 97,086.3 million. At end-September 2016, household deposits in domestic currency rose by 10.5 percent (11.1 percent in real terms) against end-September 2015.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) inched down 0.7 percent to RON 77,226.4 million. At end-September 2016, RON-denominated corporate deposits climbed by 19.9 percent (20.6 percent in real terms) year-on-year.

As regards the forex-denominated deposits of resident households and companies (non-financial corporations and non-monetary financial institutions), these went up 0.5 percent to RON 84,216.9 million when expressed in domestic currency (when expressed in EUR, forex deposits stood 0.6 percent higher at EUR 18,915.4 million).

In y-o-y comparison, residents’ forex deposits expressed in RON advanced 4.8 percent (when expressed in EUR, residents’ forex deposits rose by 4.0 percent), central bank data show; household forex deposits climbed by 7.3 percent when expressed in domestic currency (when expressed in EUR, household forex deposits expanded by 6.4 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) moved up RON 3.8 million when expressed in RON (when expressed in EUR, forex deposits of resident legal entities contracted by 0.8 percent).

At end-September 2016, broad money amounted to RON 296,027.7 million, up 0.1 percent (0.2 percent in real terms) month on month. In year-on-year comparison, broad money rose 12.2 percent (12.9 percent in real terms).

As for the non-government loans granted by credit institutions, these went up 0.7 percent (0.8 percent in real terms) from August 2016 to RON 216,846.6 million. RON-denominated loans expanded 1.3 percent (1.4 percent in real terms), whereas foreign currency-denominated loans shrank 0.1 percent when expressed in RON and EUR 8 million when expressed in EUR. At end-September 2016, non-government loans went up 1.2 percent (1.8 percent in real terms) year on year, on the back of the 13.2 percent increase in RON-denominated loans (13.8 percent in real terms) and the 11.0 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 11.7 percent).

Government credit stood 2.5 percent last month from August to RON 88,886.1 million. At end-September 2016, government credit advanced 1.3 percent (1.9 percent in real terms) from the same year-ago period.