The nongovernmental credit scales back to 10.8% annual advance

The volume of retail and business loans decreased in July for the fifth successive month by 0.1 percent versus June, to 197.9 billion lei, and the annual advance slowed down to10.8 percent, from 11.2 percent a month earlier, according to data provided by the National Bank of Romania.

In June, official figures show the nongovernmental loan lowered 0.5 percent month-on-month, following a 0.7 percent decline in May, a 1 percent drop in April and a 2.1 percent decrease in March. Lending stood at 198.06 billion lei at the end of June, NewsIn informs.

From the peak reached at the end of February, of 206.89 billion lei, the credit lost 9 billion lei during the past five months. The annual growing rate lowered about three times during the first seven months, from 33.7 percent in December 2008.

In real terms, considering the inflation, retail and corporate loans increased only 5.4 percent in the twelve months to July 2009, the central bank also shows.

Leu-denominated loans subdued1.2 percent month-on-month in July, to 79.92 billion lei and slipped by 2.5 percent year-on-year, after a 1.1 percent growth in June 2008 – June 2009.

When expressed in lei, the Fx-denominated loans increased by 0.7 percent in July versus June, to 117.98 billion lei. In euros, the annual increase of fx loans was of 2.4 percent.

The retail leu-denominated loans decreased in July by 0.3 percent to 39.5 billion lei, while those granted to companies reduced 2.2 percent to 40.43 billion lei.

As to the FX loans, households reached a balance of 59.95 billion lei on July 31, similar to the level recorded in June, and 23.6 percent up from the end of July 2008. The credits given to the companies grew 1.5 percent versus June to 58.03 billion lei, and stood up 20.4 percent frpom year-ago period.

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