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Credits and deposits market in May 2016



Weighted average interest rateData included in this communiqué are reflected in accordance with the Instruction on reporting the interest rates applied by banks of the Republic of Moldova, approved by the Decision of the Council of Administration of the NBM no.304 of 22 December 2011, Official Monitor of the Republic of Moldova no.238-242 of 30.12.2011 on new loans in national currency granted in May 2016 was 15.23 percent, increasing by 1.38 percentage points compared to the same period last year (Chart no.1).  As compared to the previous month, the weighted average interest rate on loans in national currency decreased by 0.44 percentage points.
Loans with terms from 2 to 5 years continued to be the most attractive. Their share in May 2016 accounting for 40.4 of the total volume of loans in national currency (Chart no.2), which were granted at an average rate of 14.80 percent (down by 0.37 percentage points compared to the previous month).

Chart no. 1. Loans structure, by maturity (%)

Chart no. 2. Loans structure, by maturity (%)

Loans granted to legal entities with an average rate of 15.02 percent held the largest share in the new granted loans in national currency, representing 70.4 percent of total volume of loans in national currency. At the same time, the average rate on loans granted to individualsIncluding individuals performing an activity amounted to 15.73 percent (Chart no.3).

Weighted average interest rate on new loans in foreign currency granted in May 2016 was 6.23 percent, by 1.01 percentage points less compared to May 2015. As compared to the previous month, the average interest rate decreased by 0.15 percentage points in May 2016.

Loans granted in foreign currency were mainly represented by the loans granted to legal entities with an average rate of 6.19 percent, amounting to 97.9 percent of total loans in foreign currency (Chart no.4). The loans granted in foreign currency with terms from 1 to 2 years were the most attractive (44.0 percent of total loans granted in foreign currency), being granted at an average interest rate of 5.96 percent.

Chart no. 3.Interest rates on loans granted in national currency, by contractual maturities (%, annually)

Graf. 4. Interest rates on loans granted in foreign currency, by contractual maturities (%, annually)

In May 2016, average interest rate on new term deposits attracted in national currency was 12.48 percent, increasing by 0.90 percentage points compared to May 2015 (Chart no.5). Compared to April 2016, the average interest rate on term deposits attracted in national currency decreased by 1.38 percentage points during the reporting period.

Term deposits with terms from 3 to 6 months held the largest share - 39.1 percent of total term deposits in national currency, which were attracted at an average interest rate of 15.15 percent (Chart no.6).

Chart no. 5. Interest rates on new term deposits by banking system (% annually)

Chart no. 6. Deposits structure, by maturity (%) 

The share of term deposits in national currency attracted from individuals during the reporting period was 74.4 percent of total term deposits attracted in national currency, decreasing by 3.8 percentage points as compared to the previous month. The average interest rate on these deposits was 15.23 percent (Chart no.7). The average rate of deposits attracted from legal entities was 4.48 percent, reflecting a decrease of 0.10 percentage points compared to the previous month.

Weighted average interest rate on term deposits in foreign currency granted in May 2016 was 2.12 percent, by 0.33 percentage points less compared to April 2016.

Term deposits with terms from 3 to 6 months held the largest share (42.3 percent) of total term deposits in foreign currency, which were attracted at an average interest rate of 1.81 percent, decreasing by 0.18 percentage points as compared to the previous month (Chart no.8). 

Chart no.7 Interest rates on term deposits attracted in national currency, by contractual maturities (%, annually)

Chart no. 8.Interest rates on term deposits attracted in foreign currency, by contractual maturities (%, annually)

Banking margin on operations in national currency was 2.75 percentage points, increasing by 0.94 percentage points as compared to the previous month level (Chart no.9).

Banking margin on operations in foreign currency amounted to 4.11 percentage points in the analysed month, increasing by 0.18 percentage points as compared to April 2016.

Chart no. 9. Banking margin (% annually)

 

Statistics