Lending in Romania accelerates in June

Non-governmental loans granted by credit institutions in Romania went up by 1.4% in June compared to the previous month, reaching RON 242,4 billion (EUR 52 billion) at the end of June. Loans in local currency (RON) went up by 1.9% whereas loans in foreign currency increased by 0.4% when expressed in RON (0.1% when expressed in EUR), according to Romania’s National Bank (BNR) data quoted by Agerpres. Corporate loans saw higher increases compared to household loans in June compared to May. At end-June 2018, non-government loans went up 6.8% year on year, on the back of the 15.3% increase in RON-denominated loans and the 6.2% decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 8.3%). Bank deposits made by resident clients increased by 1.4% month-on-month and 12.4% year-on-year in June, to RON 312.9 billion (EUR 67.1 billion). Deposits in local currency were double compared to those in foreign currencies. editor@romania-insider.com