The stock of bank loans in Romania rose by 17.5% YoY to RON 352.8 bln (just over EUR 70 bln) at the end of June, faster than the 15% YoY consumer price inflation in the month, or the 12.2% GDP deflator and the 16% nominal increase of the GDP - both projected for this year.

Corporate lending remains more active compared to retail lending, and foreign corporate lending gains momentum visibly: from +12.8% you at the end of last year to +27.1% YoY at the end of June, according to data from the National Bank of Romania (BNR).

For comparison, the local currency corporate lending kept rising fast: +26.7% YoY in June compared to +26.2% at the end of 2021.

Household lending is losing momentum amid rising interest rates and rising uncertainty.

Consequently, the stock of local currency retail loans rose by 13.8% YoY in June - still at a fast pace but still losing momentum from 15.3% YoY at the end 0f 2021. 

(Photo: Shutterstock)

iulian@romania-insider.com