Individuals and companies borrowed much less in July, the firstmonth Goverment's austerity measures were enforced, so that thevolume of private lending registered a steep decline, by fourbillion RON, to 206.7bn RON (the equivalent of 48.7bn euros).
The decline was largely caused by the exchange rate impact, giventhat the RON in July rose by almost 2.8% against the euro,triggering an artificial decline of foreign currency-denominatedloans when reported in RON.
RON lending posted a slight increase of 0.2% last month, to 78.6bnRON, owing to corporate borrowing, according to NBR data. However,the increase is way below July inflation of 2.4%.
Meanwhile, the volume of foreign currency loans dropped by 3.2% inRON, to 128.1bn RON (30.2bn euros). Denominated in euros, foreigncurrency lending slid by 0.4%.
Bankers say many clients have become cautious about borrowing amidGovernment's austerity moves, so that loan demand remainsweak.
At the same time, both the individuals and companies in July spentmoney from deposits opened with banks, so that their total amountdropped by 1.3% against June. RON deposits fell by 0.7%, to 104.8bnRON, while foreign currency savings, denominated in euro, slightlyincreased by 0.5%, to 14.9bn euros (63.1bn RON).
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
