In October 2023, new term deposits attracted1 (Infographic 1) accounted for MDL 3,304.2 million, decreasing by 10.0% as compared to September 2023. Deposits attracted in domestic currency recorded a major share of 67.2% and totalled MDL 2,220.1 million, decreasing by 9.2% as compared to the previous month.
Infographic 1. Developments in new extended deposits2
The average nominal interest rate on domestic currency deposits increased by 0.01 percentage points as compared to the previous month to the value of 4.30%. The average nominal interest rate on foreign currency deposits decreased by 0.23 percentage points to the value of 1.96%.
In terms of maturity, the highest demand was recorded for deposits with terms from 6 to 12 months, which held a share of 54.1% of total term deposits. Individuals’ deposits attracted at this term recorded a share of 42.9% of the total of deposits.
Infographic 2. Individuals’ new term deposits
Individuals’ deposits amounted in October 2023 to MDL 2,592.7 million, decreasing by 10.0% as compared to the previous month (Infographic 2).
The average interest rate on deposits attracted in domestic currency from individuals’ increased by 0.09 percentage points as compared to the previous month, reaching 4.42%. At the same time, the average interest rate on foreign currency deposits decreased by 0.19 percentage points to the value 2.07%.
In October 2023, businesses’ deposits in domestic currency decreased by 0.8% while those in foreign currency - by 22.8%, as compared to the previous month (Infographic 3). Businesses’ deposits in domestic currency amounted to MDL 496.3 million, while those in foreign currency – MDL 213.1 million.
Infographic 3. Legal entities’ new term deposits
The average interest rate on deposits attracted in domestic currency from businesses decreased by 0.26 percentage points, reaching 3.91%. At the same time, the average interest rate on foreign currency deposits decreased by 0.42 percentage points to the value of 1.51%.
infographic:
Developments in LOAN markets in September 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. Aggregate data may not correspond exactly to the sum of the components due to mathematical rounding.
3. Individuals practicing an activity, according to the Instruction on drafting the Report on monetary statistics by licensed banks, approved by the DEB of the NBM No 255 of 17.11.2011, Official Monitor of the Republic of Moldova No 206-215 of 02.12.2011, with subsequent amendments and additions, operate in associations of persons without legal personality and are producers of goods and/or services for the market, namely, individual enterprises, peasant households, patent holders, notaries, lawyers, bailiffs, etc.
