In October 2024, new granted loans1 (Infographic 1) amounted to MDL 6,925.9 million, increasing by 10.2% compared to September 2024. The largest share (74.2%) represents domestic currency loans, which totalled MDL 5,135.8 million, increasing by 8.1% as compared to the previous month.
Infographic 1. Development in new granted loans
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In terms of maturity, loans with maturity ranging from 2 to 5 years recorded the highest demand, having a share of 53.8% in the total amount of granted loans. The share of these loans granted to businesses represented for 37.4% 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 0.16 percentage points (p.p.) to the value of 8.25%, while the average interest rate on foreign currency loans decreased by 0.09 p.p. to the value of 5.87%.
In October 2024, individuals contracted new loans (Infographic 2) in total amount of MDL 2,245.3 million, increasing by 12.9% as compared to the previous month, the largest share (53.8%) representing consumer loans. The largest part of consumer loans granted to individuals (MDL 1,061.5 million) was granted in domestic currency with a maturity ranging from 2 to 5 years.
Infographic 2. New loans granted to individuals
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Mortgage loans represent a share of 46.0% of total new loans granted to individuals, being contracted only in domestic currency.
The average interest rate on consumer loans granted in domestic currency increased by 0.07 p.p. to the value of 10.48%. The average interest rate on loans granted in domestic currency to acquire real estate decreased by 0.19 p.p. to the value of 6.97%.
Compared to the previous month (Infographic 3), businesses requested more loans in domestic currency (+3.7%). The volume of loans in foreign currency increased by 20.0%, while the volume of foreign-currency-linked loans2 decreased by 65.6%.
Non-financial commercial companies contracted the largest share (59.3%) of new granted loans.
The average interest rate on domestic currency loans granted to businesses decreased by 0.12 p.p., reaching 7.72%. At the same time, the average interest rate on foreign currency loans decreased by 0.09 p.p. to the value of 5.87%.
Infographic 3. New loans granted to businesses
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infographic [4]:
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Developments in DEPOSITS markets in October 2024 [5]
Statistical data [6]
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 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.