In July 2024, new granted loans1 (Infographic 1) amounted to MDL 6,224.4 million, increasing by 13.9% compared to June 2024. The largest share (70.1%) represents domestic currency loans, which totalled MDL 4,362.8 million, increasing by 4.1% as compared to the previous month.
Infographic 1. Development in new granted loans2
In terms of maturity, loans with maturity ranging from 2 to 5 years recorded the highest demand, having a share of 55.3% in the total amount of granted loans. The share of these loans granted to businesses represented for 34.7% 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 0.07 percentage points to the value of 8.82%, while the average interest rate on foreign currency loans decreased by 0.09 percentage points to the value of 5.95%.
In July 2024, individuals contracted new loans (Infographic 2) in total amount of MDL 1,969.0 million, increasing by 16.6% as compared to the previous month, the largest share (70.1%) representing consumer loans. The largest part of consumer loans granted to individuals (MDL 1,203.4 million) was granted in domestic currency with a maturity ranging from 2 to 5 years.
Infographic 2. New granted loans to individuals
Mortgage loans represents a share of 29.5% 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 0.12 percentage points to the value of 10.62%. The average interest rate on loans granted in domestic currency to acquire real estate also decreased by 0.12 percentage points to the value of 7.38%.
Compared to the previous month (Infographic 3), businesses requested less loans in domestic currency (-5.0%). The volume of loans in foreign currency increased by 47.6%, while the volume of foreign-currency-linked loans4 decreased by 20.4%.
Non-financial commercial companies contracted the largest share (63.6%) of new granted loans.
The average interest rate on domestic currency loans granted to businesses decreased by 0.19 percentage points, reaching 8.08%. At the same time, the average interest rate on foreign currency loans decreased by 0.09 percentage points to the value of 5.95%.
Infographic 3. New granted loans to businesses2
infografic:
Developments in DEPOSITS markets in July 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. 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. Aggregate data may not correspond exactly to the sum of the components due to mathematical rounding.
3. Individuals performing an activity, in accordance with the Instruction on completion by licensed banks of the Report on monetary statistics, approved by the Decision of the Executive Board of the NBM No 255 of 17 November 2011, Official Monitor of the Republic of Moldova No 206-215 of 2 January 2011, as subsequently amended and supplemented, work in associations without legal personality and are producers of goods and/or services for market, and namely, individual enterprises, farms, entrepreneur license holders, notaries, lawyers, bailiffs, etc.
4. 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.
