Expert says balance of credits provided by Moldova's banking, non-banking sector amount to about 50 billion lei in 2019
13:21 | 22.01.2019 Category: Economic
Chisinau, 22 January /MOLDPRES/ - The portfolio of credits of the non-banking sector, which has never had a share bigger than ten per cent of the market, will continue increasing in 2019 too, after the last year growth, when it reached a quota of 25 per cent of the overall market of loans. Banks will provide more credits as well; as a result, the overall financings offered by the banking and non-banking sector will reach about 50 billion lei, an economist of the Viitorul Institute for Development and Social Initiatives, Veaceslav Ionita, has said.
According to the expert, the banks will provide more and more credits to residents, which will reduce the difference between the demand and supply of currency, which will keep the Moldovan leu stable. At the same time, “the agriculture, transports and partially the constructions will be the braches which will animate the sector of crediting legal entities.” In late 2019, the share of the portfolio of credits provided to private people will exceed 40 per cent and the overall balance of loans offered by the banking and non-banking sector will reach about 50 billion lei “for the first time since the declaration of the Independence,” economist Ionita noted.
Veaceslav Ionita also said that, while ahead of the crisis, the volume of loans was amounting to 44.7 billion lei, in 2018, after a three-year decrease, “we have a growth and we will reach the same level as in 2014.” Last year, the crediting of private persons “increased hugely” and doubled against 2013 and reached 16 billion lei. “A half of this increase is due to the 2018 year,” economist Veaceslav Ionita said at the programme, 15 Minutes of Economic Realism.
Data by the National Bank of Moldova shows that, in 2018, at least 53.7 per cent of the loans were provided to trade firms and 34.1 per cent - to private persons, especially credits for real estate, following the launch of the First Home programme.
