RON-denominated loans, higher than those in foreign currency

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At end-February 2016, broad money amounted to RON 283,734.3 million, declining 0.1 percent (up 0.1 percent in real terms) month on month. In year-on-year comparison, broad money rose 9.7 percent (12.7 percent in real terms), National Bank of Romania (BNR) informs.

At the same time, non-government loans granted by credit institutions contracted 0.4 percent (down 0.2 percent in real terms) from January 2016 to RON 215,250.9 million. RON-denominated loans added 1.2 percent (up 1.4 percent in real terms), whereas foreign currency-denominated loans shrank 2.1 percent when expressed in RON and 0.6 percent when expressed in EUR.

Non-government loans went up 2.4 percent (5.2 percent in real terms) year on year, on the back of the 20.7 percent increase in RON-denominated loans (24 percent in real terms) and the 11.9 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 12.5 percent). Government credit stood 1.1 percent higher in February 2016 than a month earlier at RON 89,601.5 million. At end February 2016, government credit decreased by 1.8 percent (up 1.0 percent in real terms) from the same year-ago period.

Central bank data show that deposits of non-government resident customers went up 0.1 percent month on month to RON 250,676.6 million in February 2016.

RON-denominated household deposits decreased by 0.2 percent to RON 92,776.8 million. At end-February 2016, household deposits in domestic currency rose by 6.4 percent (9.3 percent in real terms) against end-February 2015. RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) went down 1.4 percent to RON 73,980.1 million. At end-February 2016, RON-denominated corporate deposits climbed by 16.4 percent (19.6 percent in real terms) year on year.

As regards, forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) added 1.8 percent to RON 83,919.7 million when expressed in domestic currency (when expressed in EUR, forex deposits grew by 3.2 percent to EUR 18,777.4 million).

In y-o-y comparison, residents’ forex deposits expressed in RON advanced 7.5 percent (when expressed in EUR, residents’ forex deposits rose by 6.7 percent); household forex deposits climbed by 5.9 percent when expressed in domestic currency (when expressed in EUR, household forex deposits expanded by 5.2 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) went up 10.6 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities stood 9.8 percent higher).

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