In January 2023, new loans extended1 (Infographic 1) totalled MDL 3,127.7 million, decreasing by 28.6% compared to December 2022. The largest share (68.7%) belongs to domestic currency loans, which totalled for MDL 2,148.0 million (-28.9% compared to the previous month).
Infographic 1. Development in new extended loans
In terms of maturity, loans with maturity ranging from 2 to 5 years recorded the highest demand, having a share of 50.3% in the total amount of extended loans. The share of businesses’ loans extended to legal entities accounted for 37.8% in the total amount of extended loans.
Non-financial commercial companies contracted the largest share (78.4%) of new extended loans.
The average nominal interest rate on new domestic currency loans increased by 0.29 percentage points as compared to the previous month and accounted for 14.26%, while the average interest rate on foreign currency loans increased by 0.64 percentage points, accounting for 5.76%.
In January 2023, individuals received their loans (Infographic 2) in the amount of MDL 558.7 million (-12.5% compared to the previous month), the largest share (75.7%) being extended to consumer loans. The largest share of these loans (MDL 347.2 million) was extended in domestic currency with a maturity ranging from 2 to 5 years.
Infographic 2. New loans extended to individuals
A share of 19.1% of total loans extended to individuals belongs to mortgage loans and was mainly extended in domestic currency (61.5% of total mortgage loans).
The average interest rate on consumer loans extended in domestic currency decreased by 0.19 percentage points and totalled 16.71%, while the average interest rate on domestic currency loans extended for the purchase of residential property increased by 0.20 percentage points, accounting for 13.21%.
Compared to the previous month, legal entities requested, in the reporting month, fewer loans not only in domestic currency (-33.3%) but in foreign currency (-26.6%) and in foreign-currency-linked loans2 (-52.8) as well. The highest share (78.4%) of new extended loans was received by non-financial commercial companies.
The average interest rate on domestic currency loans extended to legal entities (Infographic 3) increased by 0.17 percentage points, reaching 13.45%. At the same time, the average interest rate on foreign currency loans increased by 0.62 percentage points and accounted for 5.70%.
Infographic 3. New loans extended to legal entities
infografic:
Developments in deposits markets in January 2023
Statistical data
Instruction on the compilation and submission of reports on interest rates applied by the banks in the Republic of Moldova, approved by the DEB of the NBM No 331 of 01.12.2016
1. Data presented according to Instruction on preparation and presentation of reports on interest rates applied by banks in the Republic of Moldova, approved by Decision of the Executive Board of the NBM No 331 of 1 December 2016, Official Monitor of the Republic of Moldova No 441-451 of 16 December 2016, as subsequently amended and supplemented.
2 Loans foreign-currency-linked, according to the Regulation on the open currency position of the bank, approved by Decision of the Council of Administration of the National Bank of Moldova No 126 of 28.11.1997, Official Monitor of the Republic of Moldova No 112-114/198 of 14.10.1999, with further modifications and completions, refer to the assets which balance, according to the conditions established in the relevant contracts concluded by the bank, shall be modified depending on the evolution of the exchange rate of Moldovan currency against the attached exchange rate.
