Loan growth in Macedonia decelerates to 5.4% y/y at end-December 2012.

By bne IntelliNews January 22, 2013
Total loans extended by banks and savings houses increased by 5.4% y/y to MKD 218.4bn (EUR 3.55bn) at end-December, slowing down from 5.6% y/y at end-November, according to preliminary data of the central bank. Annual loan growth has been decelerating for eight consecutive months. Foreign currency loans dropped by 5.1% y/y to MKD 54.4bn at end-December, with the annual contraction widening from 5% at end-November. Local currency loans expanded by 9.49% on the year to MKD 164bn at the end of last month. Notably, annual growth of this group of loans has slowed down from 9.53% at end-November, after accelerating throughout the preceding nine months. Loans to non-financial corporations (public and private) increased by 4.5% y/y to MKD 130.7bn at end-December, slowing down from 4.8% y/y a month earlier. On the other hand, annual growth of loans to households (individuals and self-employed individuals) speeded up from 6.3% at end-November to 6.5% at end-December, when they stood at MKD 86.9bn.

Loan growth in Macedonia decelerates to 5.4% y/y at end-December 2012.

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