• Schedule of reception of citizens by the Executive Board of the National Bank of Moldova.
    The registration of applicants for an audience is carried out based on a written request on the subject addressed.


  • Anca Dragu, Governor

    1st Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 606.


  • Vladimir Munteanu, First Deputy Governor

    2nd Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 606.


  • Tatiana Ivanicichina, Deputy Governor

    3rd Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 607.


  • Constantin Șchendra, Deputy Governor

    4th Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 607.

Please, note the requirements for receiving and examining petitions and requests for access to information of public interest addressed to the National Bank of Moldova!

Details

 

Main navigation BNM

Expand Hide
19.10.2018

Credits and deposits market in September 2018



In September 2018, new loans1 extended by banks totalled MDL 2,643.2 millions, recording an increase of 17.4%, compared to September 2017.

Domestic and foreign currency loans accounted for 61.7% and 38.3%, respectively, of total loans extended. (Diagram 1, upper graph).

Domestic currency loans totalled MDL 1,630.7 million (+10.1% compared to the previous month and +18.5% compared to September 2017) (Diagram 1, lower graph).

Foreign currency loans2, recalculated in MDL, totalled MDL 1,012.4 million (+7.0% compared to the previous month and +15.8% compared to September 2017) (Diagram 1, lower graph).

Diagram 1.
Evolution of new loans, mil. lei (upper graph) and the annual growth rate of new loans (lower graph), %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

 

In terms of maturity, loans with maturity ranging from 2 to 5 years recorded the highest demand (40.3% of total loans extended), out of which the largest share of 28.7% was held by legal entities loans (Diagram 2.).

Diagram 2.
Total new loans extended, by maturity terms and shares held, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018

 

Domestic currency loans were mainly represented by loans extended to non-financial corporations, holding a share of 55.8% (entirely accounted for by loans extended to trade businesses), and individuals’ loans3 (41.7%) (Diagram 3).

Foreign currency loans were mainly extended to non-financial corporations (91.8%), of which loans extended to trade businesses accounted for the largest share (54.2%).

Diagram 3.
Domestic currency loans broken down by business sectors, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018

 

New loans were extended at an average interest rate of 8.50% (domestic currency loans) and 4.60% (foreign currency loans).

Diagram 4.
Weighted average interest rates on new loans, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

 

Average interest rate on domestic currency loans increased by 0.05 p.p. compared to August 2018, recording levels of 7.78% (individuals’ loans) and 9.02% (legal entities loans) (Diagram 4).

Average interest rate on foreign currency loans increased by 0.07 p.p. compared to August 2018, recording levels of 6.10% (individuals’ loans) and 4.56% (legal entities loans).

Year-on-year, average interest rates on loans recorded a total decrease of 1.46 p.p. (domestic currency loans) and 0.30 p.p. (foreign currency loans).

Diagram 5.
Average interest rates on new domestic currency loans, by maturity terms, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

 

Domestic currency loans with maturity ranging from 2 to 5 years recorded the highest demand in the reporting month and were extended at an average interest rate of 8.41% (9.04% on legal entities loans, 7.53% on individuals’ loans).

The highest average interest rate was applied on individuals’ loans with maturity of up to 1 month (11.95%) and legal entities loans with maturity ranging between 1 and 3 months (11.66%) (Diagram 5).

Diagram 6.
Average interest rates on foreign currency loans, by maturity terms, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

Foreign currency loans with maturity ranging between 2 and 5 years recorded the highest demand and were extended at an average interest rate of 4.59% (individuals’ loans – at 5.90%, legal entities loans – at 4.54%) (Diagram 6).

 

In September 2018, new term deposits totalled MDL 2,611.9 millions, recording a decrease of 19.3% compared to September 2017 (Diagram 7).

Diagram 7.
Evolution of new term deposits (upper graph) compared to statistics of the previous month (lower graph), mil. lei.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

 

Domestic currency deposits totalled MDL 1,542.5 million (-40.5% compared to August 2018 and -15.9% compared to September 2017).

Foreign currency deposits, recalculated in MDL, totalled MDL 1,069.4 million (-14.0% compared to August 2018 and -23.9% compared to September 2017).

Domestic currency deposits accounted for a share of 59.1%, while foreign currency deposits – 40.9% of total deposits.

Diagram 8.
Total deposits, by maturity terms and shares held, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

 

In September 2018, deposits were mainly represented by individuals’ deposits – 87.7% (of which 48.4% - domestic currency deposits and 39.3% - foreign currency deposits).

In terms of maturity, the highest demand was recorded for deposits placed for a period ranging from 6 to 12 months (49.1% of total term deposits). The largest share was held by individuals’ deposits (42.0% of total deposits placed).

New term deposits were placed at an average interest rate of 4.51% (domestic currency deposits) and 0.83% (foreign currency deposits).

Diagram 9.
Weighted average rates on new deposits, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

 

Average interest rate on new term deposits in domestic currency increased by 0.32 p.p. compared to the previous month. Individuals’ deposits were placed at an average interest rate of 4.71%, while legal entities deposits – at 3.57%.

The average interest rate on new term deposits in foreign currency fell by 0.03 p.p., compared to August 2018. Individuals’ deposits were placed at an average interest rate of 0.82%, while legal entities deposits – at 0.99%.

- Year-on-year, average interest rates on deposits decreased. Thus, average interest rate on domestic currency deposits decreased by 1.31 p.p. (individuals’ deposits - by 1.14 p.p., legal entities deposits - by 2.05 p.p.). Average interest rate on foreign currency deposits decreased by 0.61 p.p. (individuals’ deposits - by 0.61 p.p., legal entities deposits - by 0.50 p.p.).

 

Diagram 10.
Average interest rates on domestic currency deposits, by maturity terms, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

Domestic currency deposits with maturity ranging from 6 to 12 months, which recorded the highest demand in the reporting period, were placed at an average interest rate of 4.53% (individuals’ deposits – 4.78%, legal entities deposits – 3.71%) (Diagram 10), whereas in foreign currency segment deposits were place at an average interest rate of 0.78% (individuals’ deposits – 0.78%, legal entities deposits – 0.59%) (Diagram 11).

The highest average interest rate on domestic currency deposits was recorded for individuals’ deposits with maturity of over 5 years (5.97%) and legal entities deposits with maturity from 2 to 5 years (4.03%) (Diagram 10).

 

Diagram 11.
Average interest rates on foreign currency deposits, by maturity terms, %.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

The highest average interest rate on foreign currency deposits was recorded for individuals’ deposits with maturity of over 5 years (1.77%) and legal entities deposits with maturity from 2 to 5 years (1.50%).

 

Bank interest margin recorded 3.99 p.p. (in domestic currency) and 3.77 p.p. (in foreign currency)

Diagram 12.
Bank interest margin, p.p. annual.

Source: The NBM’s report on average rates on new loans and deposits recorded in the banking system for September 2018.

Bank interest margin on domestic currency operations decreased by 0.27 p.p. compared to the previous month and by 0.15 p.p. compared to September 2017.

Bank interest margin on foreign currency operations increased by 0.10 p.p. compared to the previous month and by 0.31 p.p. compared to September 2017.

 

Statistical data

 

______________________________________________

Statistics

1. The data are presented according to the Guidelines on the Compilation and Submission of Reports on Interest Rates applied by banks in the Republic of Moldova, approved by the Decision of the Executive Board of the NBM no. 331 of 01 December 2016, which were published in the Official Monitor of the Republic of Moldova no.441-451 of 16 December 2016, with subsequent amendments and completions.

2. As of January 1, 2018, the foreign currency-linked loans were moved from the class of domestic currency loans to foreign currency loans. According to September 2018 data as compared to September 2017: total in MDL – 8.38%; total in foreign currency - 4.56%.

3. Including economically active individuals’.

Subscribe to Newsletter
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.