Interests on loans, deposits continue dropping in Moldova

18:03 | 20.04.2018 Category: Economic

Chisinau, 20 April /MOLDPRES/ – The interests in MDL loans continue downward trend, without spectacular falls, and similar evolution is also confirmed for interest rates on deposits, according to data from the National Bank of Moldova (BNM). "If we view the market, there is a growing interest rate on MDL loans for companies, but also for population. On the other hand, people who keep money in deposits will have very low interest rates, but the good news is that those who will lend will get cheaper," state the experts.

The weighted average interest rate on national currency loans granted by Moldovan banks decreased in March 2018 to a new historical minimum of 9.35 per cent annually after it was 9.80 per cent in the first month of 2018.

It is the fifth consecutive month when interest rate remains below 10 per cent. The reintroduction of inflation on a downward trend, which has reached the target of BNM, and a possible reduction by central bank of monetary policy rate will slightly push down interest rates on MDL loans, according to financial experts.

On background of interest rate cut, economic agents and population contracted in March loans worth over MDL 1.4 billion, by about MDL 360 million more than in previous month. The major share of the new loans in national currency, about 60 per cent of total volume of loans in MDL, was financed by legal entities with an average rate of 9.67 per cent. Also, individuals took from banks loans in lei with an average rate of 8.84 per cent, and the average interest on loans for real estate was 7.14 per cent.

The weighted average interest rate on new loans in foreign currency during the reference period constituted 4.69 per cent.

The data of BNM also indicate that the weighted average interest rate on deposits in national currency (MDL) fell to 5.12 per cent annually in March compared to 5.53 in January 2018 in banking sector and deposit ratio fell in recent three months from 5.67 to 5.32 per cent per year.

(Reporter V. Bercu, editor A. Raileanu)

Any material published on the website of the Public Institution ’’A.I.S. Moldpres’’ (Moldpres News Agency) is intellectual peoperty of the Agency, protected by the copyright. The taking over or/and use of these materials will be made only with the Agency’s agreement and with compulsory reference to source.