In August 2024, new granted loans1 (Infographic 1) amounted to MDL 5,631.8 million, decreasing by 9.5% compared to July 2024. The largest share (76.0%) represents domestic currency loans, which totalled MDL 4,280.1 million, decreasing by 1.9% as compared to the previous month.
Infographic 1. Development in new granted loans
In terms of maturity, loans with maturity ranging from 2 to 5 years recorded the highest demand, having a share of 54.9% in the total amount of granted loans. The share of these loans granted to businesses represented for 32.5% in the total amount of granted loans.
The average nominal interest rate on new domestic currency loans as compared to the previous month decreased by 0.14 percentage points to the value of 8.68%, while the average interest rate on foreign currency loans decreased by 0.02 percentage points to the value of 5.93%.
In August 2024, individuals contracted new loans (Infographic 2) in total amount of MDL 2,092.0 million, increasing by 6.2% as compared to the previous month, the largest share (65.5%) representing consumer loans. The largest part of consumer loans granted to individuals (MDL 1,189.1 million) was granted in domestic currency with a maturity ranging from 2 to 5 years.
Infographic 2. New granted loans to individuals
Mortgage loans represent a share of 34.1% of total new granted loans to individuals and were granted only in domestic currency.
The average interest rate on consumer loans granted in domestic currency decreased by 0.27 percentage points to the value of 10.35%. The average interest rate on loans granted in domestic currency to acquire real estate also increased by 0.09 percentage points to the value of 7.47%.
Compared to the previous month (Infographic 3), businesses requested less loans in domestic currency (-8.1%). The volume of loans in foreign currency decreased by 27.8%, while the volume of foreign-currency-linked loans2 decreased by 13.8%.
Non-financial commercial companies contracted the largest share (58.8%) of new granted loans.
The average interest rate on domestic currency loans granted to businesses decreased by 0.11 percentage points, reaching 7.97%. At the same time, the average interest rate on foreign currency loans decreased by 0.02 percentage points to the value of 5.93%.
Infographic 3. New granted loans to businesses
infographic:
Developments in DEPOSITS markets in August 2024
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. The press release is made based on reported information according to the Instructions on the preparation manner and presenting reports on the interest rates applied by the Moldovan banks , approved by the Decision of the Executive Board (HCE) of NBM no.331/2016; The notions and terms used in the press release, especially new loans, legal entities, individuals and individuals that practice the activity have got a well-defined meaning in the contracted Instruction.
2. Loans attached to the currency rate represent loans whose balances, according to the conditions established in the corresponding contracts concluded by the bank, change depending on the evolution of the Moldovan leu exchange rate against the currency to which they are attached.
Note: In the infographics the aggregated data may not correspond exactly to the sum of components because of the mathematical rounding.
