The stock of bank loans to non-government increased by 16.5% in May compared to last year (YoY), to RON 345.2 bln (EUR 70 bln), according to the National Bank of Romania (BNR).

The stock of loans denominated in local currency increased by 20% YoY, and those denominated in foreign currency but expressed in RON increased by 8.2% YoY.

The annual growth rate accelerated from 15.8% YoY in April and 15.7% YoY in March.

In real terms, the stock of loans increased by 1.8% YoY as of the end of May, amid the increase of 4.8% YoY of the component denominated in RON and by 7.6% of the component denominated in foreign currency (and expressed in euro).

At the end of May, the loans denominated in RON totaled RON 251 bln (EUR 50 bln), of which the loans taken by the population were RON 143.4 bln (+ 14.4% YoY) and loans taken by companies (non-financial corporations) and non-monetary financial institutions) were RON 107.5 bln, 28.4% up YoY.

(Photo: Shutterstock)

andrei@romania-insider.com