The trend of private lending in November 2023 was due to a 4% rise in local currency lending and an 8.7% rise in foreign currency lending expressed in lei.
In real terms, private lending fell 1.2% in November, amid a 2.5% decrease in local currency lending and a 7.5% increase in foreign currency lending expressed in euros.
Compared with October 2023, in private lending edged up 0.6% in November 2023. Local currency lending, which accounted for 68.5% of the total private lending, inched up 0.8%, while foreign currency lending expressed in lei inched up 0.1%.
The biggest annual growth rate was recorded in November 2023 by foreign currency loans contracted by companies (14.6% to RON99.4 billion), while local currency loans contracted by companies (non-financial companies and non-monetary financial institutions) only went up by 4.7% to RON110.6 billion.
On the household loan segment, loans in lei increased 3.5% year-over-year to RON152 billion in November 2023, while foreign currency loans decreased by 12% on the year to RON21.6 billion.
Government credit rose by 5.6% to RON194 billion in November 2023 compared with October 2023 and increased by 13.1% (6% in real terms) compared with November 2022.
Deposits of non-government resident customers went up 1,3% to RON555 billion in November 2023 compared with October 2023, and up by 12.1% (5.1% in real terms) from the year-ago month.
Deposits denominated in lei, which accounted for 69% of all, increased by 1.8% to RON383 billion in November compared with October 2023 and by 19.7% (12.2% in real terms) compared with November 2022.
RON-denominated household deposits rose by 1.9% in November 2023 on the previous month to RON210 million and by 25.1% on the year-ago month.
RON-denominated corporate deposits increased by 1.6% to RON173 billion on the previous month and 13.8% (6.6% in real terms) on November 2022.
Foreign-currency-denominated deposits inched up 0.3% to a total RON172 billion when expressed in lei and 0.2% to EUR34 billion when expressed in euros compared with October 2023. Compared with November 2022, they shrank 1.7% and 2.8%.
(English version by Loredana Fratila-Cristescu)