Skopje, 19 April 2024 (MIA) - Total loans registered a monthly growth of 0.3 percent in March due to increased lending to the household sector. Annual growth amounts to 6.1 percent and is due to the higher loans of both sectors, with a greater contribution of the household sector, said the National Bank on Friday.

Household loans increased by 0.5 percent on a monthly basis, and 6.8 percent annually. The annual and monthly growth is a result of the intensified denar and foreign currency lending, with a greater contribution of foreign currency loans.

There were no changes in terms of the corporate loans in March compared to the previous month. On an annual basis, there is a growth of 5.4 percent that entirely arises from the increased denar lending, in conditions of a drop in foreign currency loans.

“In March 2024, analyzing the purpose of loans granted to individuals, consumer and housing loans, as the most common categories, registered a monthly growth of 0.4 percent and 1.0 percent, respectively, amid an annual growth of 5.8 percent and 10.4 percent, respectively. This month, car loans increased by 1.8 percent and 13.1 percent, on a monthly and annual basis, respectively, while loans on credit cards registered a monthly and annual fall of 0.8 percent and 6.8 percent, respectively. In March, overdrafts registered a monthly increase of 2.3 percent and an annual increase of 6.1 percent. Loans granted on other basis registered a monthly fall of 1.7 percent, while annually they dropped by 21.2 percent,” the Bank said.

In March, total deposits declined by 0.9 percent on a monthly basis, fully due to the drop in corporate deposits, amid growth in household deposits. Annually, the increase of 9.3 percent resulted from the deposit growth in both sectors, with greater contribution of the household deposits.

According to the National Bank, in March, total household deposits increased by 0.1 percent and 8.7 percent, on a monthly and annual basis, respectively. The growth on both basis is due to the higher long-term and demand deposits, amid a drop in short-term deposits.

Total corporate deposits declined by 2.4 percent on a monthly basis. The decrease primarily reflects the lower demand deposits, coupled with the fall of short-term deposits, amid growth of long-term deposits. Annually, corporate deposits increased by 12.2 percent, mainly reflecting the growth of demand deposits, short-term deposits in foreign currency and long-term deposits in denars, with additional positive contribution of other components. 

Photo: National Bank