Lending shows signs of revival: 1% decline in April

The volume of retail and small business loans fell for the second successive month in April, by 1% from prior month, to 200.55 billion lei (47.9 billion euros), and the annual growth rate dropped to 18.9% in nominal terms, from 23.1% in March.

In March, the non-government loan dropped by 2.1% in February. At end-April 2009, non-government loans granted by credit institutions dropped to 6.34 billion lei from 206.89 billion lei in February.

In real terms, retail and small business loans dropped in April by 1.3% from March and climbed 11.7% YoY, NBR informs.

RON-denominated loans dropped in April by 0.5% (-0.8% in real terms) from March, down to 82.6 billion lei (19.7 billion euros). As compared to April 2008, the loan in local currency advanced by 7.8% dropped for the first time in ten years below 10% mark. In the 12 months to March 2009, the non-government loan in lei had advanced 12%.

Foreign exchange-denominated loans declined by 1.4 percent in nominal terms down to 117.5 billion lei (28.2 billion euros). When expressed in euros, forex-denominated loans dropped by a lower margin, as currency exchange rate euro/leu reduced by 1.2% between end March and April 30.

Compared to a year earlier, forex-denominated non-government loan increased by 28% in nominal terms.

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