Romanians prefer loans in foreign currency but start saving more in local currency

Non-governmental loans in Romania went up by 4.5 percent in July this year, compared to the same month of 2010, while the month-on-month growth was of 1.1 percent, reaching the equivalent of EUR 50.8 billion in July this year, according to data from the Romanian Central Bank (BNR). On the deposits side, the growth was of 5.5 percent for non-governmental customers, compared to June 2010, and of 1.7 percent, month-on-month. Household loans in the Romanian currency decreased by 5.2 percent compared to July last year and were flat compared to June this year. Corporate loans in RON grew by 8.2 percent from July last year and by 1.9 percent compared to June. Loans in foreign currencies were more popular, as they grew by 4.1 percent – household loans- and by 8.2 percent, corporate loans, compared to July this year. The volume of deposits reached EUR 41.6 billion, according to BNR data. The biggest growth came from corporate deposits in RON, which were up 13.4 percent, while household deposits grew by 9.5 percent compared to July last year. Both companies and individuals avoided the Forex-denominated deposits, which went down in value by 13.1 percent in case of companies, and increased by a mere 1.9 percent for households. Check the full data on loans and deposits here. editor@romania-insider.com (photo source: Sxc.hu)