Demand for loans remains high in Moldova, despite increase by banks of interests on new loans

Chisinau, 19 October /MOLDPRES/ - The banks of Moldova in last September provided loans worth 2,869 million lei, up by 8.5 per cent against the same period of the year before. Most bank loans, respectively 68 per cent, were borrowed in Moldovan lei and another 32 per cent – in currency, according to data by the National Bank of Moldova (BNM).   

The demand for loans remains high, despite the increase by banks of the interests on the new loans. Thus, economic agents and residents in September 2019 borrowed from banks credits in the national currency amounting to 1,951.1 million lei, which is by 8.2 per cent more against the month before and by 19.6 per cent more against September 2018. The average interest on the new loans in Moldovan lei increased to 8.36 per cent – the highest level this year. 

On the other hand, the average rate of interest on the loans in currency dropped to 4.50 per cent in last September, against 4.58 per cent in August 2019; as a result, the volume of credits provided in currency recalculated in Moldovan lei grew by 13.9 per cent against the month before up to 917.9 million lei.  

According to BNM, the most attractive loans were the ones provided for periods from 2 to 5 years (46.3 per cent of all loans), where the credits given to legal entities accounted for 30.6 per cent of all credits. The loans provided in the national currency were represented, preponderantly, by those provided to legal entities (53.7 per cent), including the credits provided to non-financial commercial companies, with a share of 46.9 per cent (the trade has 50.1 per cent).  

Loans in currency were demanded, basically, by non-financial financial companies (93.3 per cent), with the major share held by the commerce (70.4 per cent).