RON-denominated household deposits up by 7.9pc y.o.y. in November

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RON-denominated household deposits decreased by 0.2 percent to RON 107,983.5 million. At end-November 2017, household deposits in domestic currency rose by 7.9 percent (4.5 percent in real terms) against end-November 2016.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) moved up 0.3 percent to RON 88,677.4 million. At end-November 2017, RON-denominated corporate deposits climbed by 13 percent (9.5 percent in real terms) year on year, the National Bank of Romania (BNR) informs.

Forex-denominated deposits of resident households and companies (non-financial corporations and non-monetary financial institutions) added 2.2 percent to RON 96,576.5 million when expressed in domestic currency (when expressed in EUR, forex deposits moved ahead 1.2 percent to EUR 20,804 million). In year-on-year comparison, residents’ forex deposits expressed in RON advanced 14.1 percent (when expressed in EUR, residents’ forex deposits rose by 11 percent); household forex deposits climbed by 12.7 percent when expressed in domestic currency (when expressed in EUR, household forex deposits expanded by 9.7 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) added 17.3 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities stood 14.1 percent higher).

At end-November 2017, broad money (M3) amounted to RON 339,801.1 million, up 0.8 percent (0.2 percent in real terms) month on month. In year-on-year comparison, broad money rose 12.5 percent (9 percent in real terms).

At end-November 2017, non-government loans granted by credit institutions inched up 0.9 percent (up 0.3 percent in real terms) from October 2017 to RON 235,637.1 million. RON-denominated loans expanded 1.4 percent (up 0.7 percent in real terms), whereas foreign currency-denominated loans increased by 0.2 percent when expressed in RON and declined 0.7 percent when expressed in EUR. At end-November 2017, non-government loans went up 6.8 percent (3.5 percent in real terms) year on year, on the back of the 16.1 percent increase in RON-denominated loans (12.5 percent in real terms) and the 5.4 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 8 percent).

Government credit added 0.3 percent in November 2017 from a month earlier to RON 98,758.1 million. At end-November 2017, government credit advanced 5.5 percent (2.2 percent in real terms) versus the same year-ago period.

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