ECONOMY FINANCE&BANKING

Non-government loans granted by credit institutions inch down 0.3pct in August, to 215 bln lei

Non-government loans granted by credit institutions in Romania inched down 0.3 percent from July 2016 to RON 215,384.7 million, while RON-denominated loans expanded 0.7 percent, according to data released on Friday by the National Bank of Romania (BNR).

“At end-August 2016, non-government loans granted by credit institutions inched down 0.3 percent (-0.4 percent in real terms) from July 2016 to RON 215,384.7 million. RON-denominated loans expanded 0.7 percent (0.6 percent in real terms), whereas foreign currency-denominated loans shrank 1.6 percent when expressed in RON and 1.4 percent when expressed in EUR. At end-August 2016, non-government loans went up 0.7 percent (0.9 percent in real terms) year on year, on the back of the 14.3 percent increase in RON-denominated loans (14.5 percent in real terms) and the 12.5 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 12.9 percent),” reads a press statement released by BNR.

Household loans advanced two percent in August 2016 on a monthly basis and 28.2 percent from August 2015. Forex-denominated loans were down 1.8 percent on a monthly basis and 13.7 percent y-o-y.

Government credit contracted by 5.6 percent in August 2016 from a month earlier to RON 86,710.7 million. At end-August 2016, government credit added 0.1 percent (0.3 percent in real terms) from the same year-ago period.

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