In April 2023, new loans extended1 (Infographic 1) totalled MDL 3,689.6 million, decreasing by 23.8% compared to March 2023. The largest share (67.5%) belongs to domestic currency loans, which totalled MDL 2,490.7 million, decreasing by 23.8% as 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 57.2% in the total amount of extended loans. The share of these loans extended to businesses accounted for 41.0% in the total amount of extended loans.
Non-financial commercial companies contracted the largest share (68.0%) of new extended loans.
The average nominal interest rate on new domestic currency loans as compared to the previous month decreased by 0.65 percentage points to the value of 13.63%, while the average interest rate on foreign currency loans increased by 0.21 percentage points to the value of 5.98%.
In April 2023, individuals contracted new loans in total amount of MDL 813.8 million, decreasing by 6.4% as compared to the previous month, the largest share (76.8%) representing consumer loans (Infographic 2). The largest part of these loans (MDL 527.1 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 19.2% of total loans extended to individuals represent to mortgage loans, which were mainly extended in domestic currency (83.7% of total mortgage loans).
The average interest rate on consumer loans extended in domestic currency decreased by 0.35 percentage points to the value of 15.57%, while the average interest rate on domestic currency mortgage loans decreased by 0.29 percentage points to the value of 12.03%.
Compared to the previous month, in the reporting month businesses requested less loans in domestic currency (-28.7%), as well as in foreign currency (-21.8%) and in foreign-currency-linked loans2 (-by 5.3 times). The average interest rate on domestic currency loans extended to businesses decreased by 0.94 percentage points, reaching 12.84% (Infographic 3). At the same time, the average interest rate on foreign currency loans increased by 0.21 percentage points to the value of 5.94%.
Infographic 3. New loans extended to businesses
infografic:
Developments in DEPOSITS markets in April 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.
