Bank lending gains momentum in Romania to 6.6% in March
The stock of bank loans to the non-government sector increased by 6.6% year-on-year to RON 290.6 billion (EUR 59.3 bln) at the end of March, accelerating from a 5.3% yoy annual growth rate in February, according to Romania's National Bank (BNR).
The portfolio of loans expressed in local currency increased at a rate nearly double the average (+11.3% yoy) to RON 204 bln (over 70% of total) while the stock of foreign currency loans contracted by 3% yoy.
Speaking of local currency loans, the banks extended nearly RON 20 bln (EUR 4 bln) of new loans in the first quarter of the year, 21.7% more than in the same quarter of 2020.
The new corporate loans extended in Q1 soared by 31% yoy to RON 9.3 bln and the retail mortgage loans by 27% yoy to RON 4.3 bln and the retail consumer loans by 7.5% yoy to RON 6.1 bln.
Comparatively, the new loans denominated in euro rose by 35% yoy to only EUR 951 mln (RON 4.66 bln).