Non-government loans increased by 3 pc last year, BNR data show

At the end of last year, non-government loans added 3 percent (4 percent in real terms) y-o-y, on the back of the 19.7 percent increase in RON-denominated loans (20.9 percent in real terms) and the 9.9 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 10.8 percent), National Bank of Romania (BNR) announced in a press release on Wednesday.

At the same time, government credit stood 3.7 percent higher in December 2015 at RON 89,617.3 million. At end-December 2015, government credit increased by 4.8 percent (5.7 percent in real terms) from the same year-ago period.

Broad money amounted to RON 286,301.1 million, up 6.1 percent (6 percent in real terms) month on month. In y-o-y comparison, broad money rose 9.3 percent (10.4 percent in real terms).

Non-government loans granted by credit institutions decreased by 0.4 percent (-0.6 percent in real terms) from November 2015 to RON 217,532.3 million. RON-denominated loans declined by 0.7 percent (-0.9 percent in real terms), whereas foreign currency-denominated loans shrank 0.1 percent when expressed in RON and 1.9 percent when expressed in EUR.

The same BNR data reveal that the deposits of non-government resident customers went up 6.8 percent month on month to RON 253,463.9 million in December 2015.

RON-denominated household deposits added 2.7 percent to RON 91,674.8 million. At the end of last year, household deposits in domestic currency rose by 6.4 percent (7.3 percent in real terms) against end-December 2014.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) increased by 18 percent to RON 79,650.9 million. At end-December 2015, RON-denominated corporate deposits climbed by 14 percent (15 percent in real terms) year on year.

Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) edged up 2 percent to RON 82,138.2 million when expressed in domestic currency. In y-o-y comparison, residents’ forex deposits expressed in RON advanced 6.3 percent; household forex deposits grew by 6.3 percent when expressed in domestic currency and forex deposits of legal entities up 6.3 percent when expressed in RON.