The total value of outstanding non-government loans extended by Macedonian banks and saving houses increased by 8.4% y/y to MKD 243.9bn (EUR 3.97bn) at end-July 2014, marginally slowing down from an 8.5% y/y growth at end-June, central bank data showed. The total loan stock is equal to 49% of the projected 2014 GDP, up from 48.9% at end-June.
Loans to non-financial corporations (public and private) rose 6.0% y/y to MKD 140.2bn at the end of last month, slowing from a 6.1% y/y rise at end-June. Loans to households increased 11.8% y/y to MKD 102.6bn with the annual growth rate unchanged from end-June.
The other components of the total loan stock include credit to financial corporations (down 5.6% y/y to MKD 223mn at end-July), loans to non-profit institutions serving households (down 6.9% y/y to MKD 127mn) and credit to local governments (up 39% y/y to MKD 795mn).
The currency breakdown of the total loan stock showed slower annual growth of the local currency portion, but also a smaller y/y decrease in the foreign currency component. Local currency loans rose 11.3% y/y to MKD 188.9bn at end-July, decelerating from an 11.8% y/y increase a month earlier. Foreign currency loans edged down 0.3% y/y to MKD 55bn at the end of last month, after shrinking 1.4% y/y at end-June.
|Loans, MKD mn|
|Jul'13||Jun'14||Jul'14||% y/y||% m/m|
|- in denars||169,712||188,320||188,858||11.3%||0.3%|
|- in foreign currency||55,186||54,947||55,020||-0.3%||0.1%|
|- in denars||83,338||91,912||91,409||9.7%||-0.5%|
|- in foreign currency||48,859||48,633||48,743||-0.2%||0.2%|
|- in denars||85,494||95,376||96,416||12.8%||1.1%|
|- in foreign currency||6,262||6,203||6,166||-1.5%||-0.6%|
|Source: Central bank|
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