In March 2024, new term deposits attracted¹ (Infographic 1) totalled MDL 2,648.9 million, decreasing by 28.9% as compared to February 2024. Deposits attracted in domestic currency recorded a major share of 69.3% and totalled MDL 1,835.6 million, decreasing by 30.4% as compared to the previous month. Deposits attracted in foreign currency totalled MDL 813.2 million, decreasing by 25.2 percent compared to the previous month.

Infographic 1. Developments in new extended deposits²

The average nominal interest rate on domestic currency deposits decreased by 0.26 percentage points as compared to the previous month to the value of 3.55%. The average nominal interest rate on foreign currency deposits increased by 0.30 percentage points to the value of 1.50%.

In terms of maturity, the highest demand was recorded for deposits with terms from 6 to 12 months, which held a share of 43.8% of total term deposits, and deposits with terms from 2 to 5 years, reaching 23.0%.

Infographic 2. Individuals’ new term deposits

Individuals’ deposits amounted in March 2024 to MDL 2,091.3 million, decreasing by 32.6% as compared to the previous month (Infographic 2). The most requested were deposits with terms from 6 to 12 months, which accounted for 43.7% of the total deposits of individuals.

The average interest rate on deposits attracted in domestic currency from individuals decreased by 0.18 percentage points as compared to the previous month, reaching 3.64%. At the same time, the average interest rate on foreign currency deposits decreased by 0.25 percentage points to the value of 1.49%.

In March 2024, businesses’ deposits in domestic currency (Infographic 3) increased by 30.4%, while those in foreign currency decreased by 2.7 times respectively, as compared to the previous month. Businesses’ deposits in domestic currency amounted to MDL 450.2 million, while those in foreign currency – MDL 103.1 million.

Infographic 3. Businesses’ new term deposits

The average interest rate on deposits attracted in domestic currency from businesses decreased by 0.43 percentage points, reaching 3.30%. At the same time, the average interest rate on foreign currency deposits decreased by 0.40 percentage points to the value of 1.58%.

infographic:

Developments in LOAN markets in March 2024

Statistical data

Instruction on the compilation and submission of reports on interest rates applied by the banks in the Republic of Moldova, approved by the DEB of the NBM No 331 of 01.12.2016

1. Data presented according to Instruction on preparation and presentation of reports on interest rates applied by banks in the Republic of Moldova, approved by Decision of the Executive Board of the NBM No 331 of 1 December 2016, Official Monitor of the Republic of Moldova No 441-451 of 16 December 2016, as subsequently amended and supplemented.

2. Aggregate data may not correspond exactly to the sum of the components due to mathematical rounding.

3. Individuals practicing an activity, according to the Instruction on drafting the Report on monetary statistics by licensed banks, approved by the DEB of the NBM No 255 of 17.11.2011, Official Monitor of the Republic of Moldova No 206-215 of 02.12.2011, with subsequent amendments and additions, operate in associations of persons without legal personality and are producers of goods and/or services for the market, namely, individual enterprises, peasant households, patent holders, notaries, lawyers, bailiffs, etc.