Foreign currency-denominated loans down by 3.2 pct this July

Non-government loans granted by credit institutions declined by 1.3 percent (down 1.1 percent in real terms) to RON 212.3 billion (EUR 47.8 billion) this July compared to the previous month, according to data released on Tuesday by Romania’s central bank. RON-denominated loans increased by 0.9 percent (1.1 percent in real terms), whereas foreign currency-denominated loans fell by 3.2 percent when expressed in RON and by 1.8 percent when expressed in EUR. At end-July 2015, non-government loans decreased by 0.7 percent (up 1.0 percent in real terms) year on year, on the back of the 13.4 percent increase in RON-denominated loans (15.4 percent in real terms) and the 11.2 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 10.9 percent).

RON-denominated household deposits added 0.2 percent to RON 88.2 billion. At end-July 2015, household deposits in domestic currency rose by 8.1 percent (9.9 percent in real terms) against end-July 2014.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) decreased by 3.2 percent to RON 61.8 billion. At end-July 2015, RON-denominated corporate deposits climbed by 7.2 percent (9.0 percent in real terms) year on year.

Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) went up 0.2 percent to RON 79.1 billion when expressed in domestic currency (when expressed in EUR, forex deposits increased by 1.7 percent to EUR 17.9 billion). In year-on-year comparison, residents’ forex deposits expressed in RON advanced 5.6 percent (when expressed in EUR, residents’ forex deposits rose by 5.9 percent); household forex deposits grew by 6.4 percent when expressed in domestic currency (when expressed in EUR, household forex deposits expanded by 6.7 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) went up 4.0 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities stood 4.3 percent higher).

Staff