Skopje, 20 April 2023 (MIA) – On an annual basis, total deposits increased by 6.8 percent, as a result of the increase in deposits in both sectors, with a larger contribution of the household sector, said the National Bank of North Macedonia in a press release Thursday.

Total loans increased by 6.6 percent on an annual basis, due to increased lending in both sectors, with a more pronounced contribution of household loans.

“In March 2023, the broad money (monetary aggregate М31,2) decreased by 1.0 percent on a monthly basis, largely as a result of the decrease in the short-term deposits and demand deposits, as well as the long-term deposits up to two years, although smaller, while the currency in circulation registered growth. On an annual basis, broad money increased by 6.6 percent, primarily as a result of the higher demand deposits and short-term deposits, given additional positive contribution of other components, as well,” said the National Bank.

According to the press release, in March, total deposits registered a monthly decrease of 0.9 percent, arising from reduced corporate deposits. While total loans increased by 0.7 percent on a monthly basis.

In March 2023, total corporate deposits decreased by 2.2 percent on a monthly basis, mostly as a result of the decrease in the demand deposits, given the decrease also in both short-term and long-term foreign currency deposits, while the short-term denar deposits increased.

On an annual basis, corporate deposits increased by 5.9 percent, as a result of the increase in short-term foreign currency deposits, demand deposits and short-term deposits in denars, in conditions of decreased long-term foreign currency deposits.

“In March, corporate loans registered a monthly increase of 0.5 percent, at an annual growth of 6.2 percent. Analyzed by currency, the increase on both bases is a result of the growth of lending in denars and in foreign currency, with a larger contribution by foreign currency loans,” the National Bank said.

The press release said that household deposits in March registered slight monthly increase of 0.1 percent, which is primarily due to the increased long-term denar and foreign currency deposits, given positive contribution of demand deposits as well, in conditions of decreased short-term foreign currency and denar deposits. Annually, household deposits increased by 8.4 percent, primarily as a result of the higher demand deposits and both long-term and short-term foreign currency deposits.

“In March, household loans increased by 0.8 percent and 6.8 percent, on a monthly and annual basis, respectively. The upward monthly and annual change arises from the growth in denar and foreign currency loans,” said the National Bank in the press release.

In March 2023, analyzing the purpose of loans granted to individuals, consumer and housing loans, as the most common categories, registered a monthly growth of 0.9 percent and 0.8 percent, respectively, amid an annual growth of 6.2 percent and 11.7 percent, respectively.

“This month, car loans decreased by 0.5 percent on a monthly basis, and increased by 9.9 percent on an annual basis. In March, loans on credit cards registered an increase on both a monthly and annual basis of 0.4 percent and 0.5 percent, respectively, while overdrafts increased by 0.5 percent on a monthly basis, amid an annual drop of 0.2 percent. In March, loans granted on another basis decreased by 2.1 percent on a monthly basis, and by 16.1 percent on an annual basis,” said the National Bank.

Photo: National Bank