Loan growth in Macedonia decelerates to 7.4% y/y at end-July 2012.

By bne IntelliNews August 21, 2012
Total loans extended by banks and savings houses increased by 7.4% y/y to MKD 217.3bn (EUR 3.53bn) at end-July, slightly slowing down from 7.5% y/y at end-June, according to preliminary data of the central bank. Annual loan growth has been decelerating for three consecutive months. The latest slowdown was caused again by slower growth of foreign currency loans, which rose by 4.4% y/y to MKD 56bn at end-July, after expanding by 9.2% y/y at end-June. On the other hand, local currency loans grew by 8.5% y/y to MKD 161.3bn at end-July, speeding up from 6.9% y/y a month earlier. The annual growth of this group of loans has been accelerating for five months in a row. Loans to non-financial corporations (public and private) increased by 7.6% y/y to MKD 131.5bn at end-July, with the annual growth rate unchanged from end-June. Loans to households (individuals and self-employed individuals) expanded by 6.6% y/y to MKD 85.1bn at the end of last month, decelerating from 6.8% y/y at end-June.

Loan growth in Macedonia decelerates to 7.4% y/y at end-July 2012.

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