Lending slowdown continues at an annual growth pace of 23.1%

In real terms, the volume of loans climbed year on year by 15.4% at the end of March.

The non-government loans amounted to 206.89 bln lei at the end of February (48.2 bln euros).

The volume of RON-denominated non-government loans dropped 0.9% (-1.4% in real terms) in March, compared to February 2009, down to 83 bln lei (19.6 billion euros). Compared to a year earlier, the loans in lei advanced 12%, NBR informed.

The volume of forex-denominated non-government loans dropped 2.9% in nominal terms, down to 119.8 bln lei (28.24 bln euros). Expressed in euro, the loans in foreign currency sank 1.6% in March from a month earlier. Compared to prior-year period, forex-denominated government loan soared 32.1% in nominal terms.

RON-denominated household loans slipped 0.7% in March compared to a month earlier, and increased by 12.3% from a year earlier, up to 40.09 bln lei (9.5 bln euros). Corporate loans in lei equated 42.94 bln lei (10.14 bln euros), 1% down from a month earlier and up 11.8% from a year earlier.

Household loans in foreign currency stood at 61.135 bln lei at the end of March 2009 (14.4 bln euros), down 2.2% from end-February and up 39.2% compared to February 2008.

Corporate loans in foreign currency amounted to 58.45 bln lei (13.8 bln euros), down 3.6% from February and up 25.5% from a year earlier. Expressed in euros, the increase of the loans in foreign currency stood at 16.3%.

Government credit (central government, local government and social security funds) stood 18.0 percent higher in March at RON 29,308.3 million. At end-March 2009, government credit increased 189.3 percent and 171.1 percent in real terms, from the same year-ago period.

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