Lending growth has been slowing down since the beginning of the year. The annual private lending growth rate stood at 11.5% in January 2023, 10.6% in February 2023, 10.2% in March 2023 and at nearly 9% on April.
Non-governmental lending shrank by 2.5% in real terms, following a decline of 9.4% of the leu component and an increase of 27.5% of the foreign currency component expressed in euros.
In May 2023, the biggest annual increase was recorded by foreign currency loans granted to companies (non-financial institutions and non-monetary financial institutions), 42.5%, to RON97.1 billion. Foreign currency household loans, on the other hand, decreased by 9.3% to RON23.6 billion.
Household loans in lei increased by 2.4% to RON146.9 billion in May and corporate loans went down 2.7% to RON104.6 billion.
Government credit grew by 2.7% to RON189.5 billion in May 2023 compared with April 2023. Compared with May 2022, it increased by 15.6% and fell by 4.5% in real terms.
Deposits of non-government resident customers went up by 1.3% to RON533.9 billion in May compared with April and by 11% on May 2022 (0.3% in real terms).
RON-denominated household deposits increased by 0.3% to RON190.4 billion in May 2023 versus April 2023 and by 21.7% (10% in real terms) year-over-year.
(English version by Loredana Fratila-Cristescu)