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October 26, 2020

Non-government loans decline for third consecutive month

Non-government loans continue their decline in Romania; the amount of household and corporate loans in July was smaller than in June, thus extending this trend to the third consecutive month. Nominal credit volumes expanded only in two months of 2014, National Bank of Romania (BNR, central bank) data show.

According to data released by BNR on Tuesday, the balance of non-government loans was down 0.7 percent in July (also 0.7 percent in real terms) to 213.84 billion lei.

The leu-denominated loans were down 1.7 percent (0.8 percent in real terms), while the foreign currency-denominated loans fell 1.7 percent (or 2.5 percent if calculated in euros). On July 31, the non-government had decreased by 3.4 percent (4.3 percent in real terms) year-on-year, as the lei-denominated component advanced 8.6 percent (7.6 percent in real terms), and the foreign-currency-denominated component decreased by 10.8 percent calculated in lei, or 11 percent calculated in euros.

The loans in lei were up 1.9 in July compared to June for households, while corporate loans inched down 0.1 percent.

The loans in foreign currency decreased for both categories, namely by 2 percent for households and 1.5 for non-financial companies and non-monetary financial institutions.

Government loans were also down in July by 1.8 percent, to 79.05 billion lei.

The year-on-year evolution of government loans was 8.9 up on July 31 (7.8 percent in real terms), BNR data also show.


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