Macedonia's loan growth slows to 8.4% y/y at end-July 2014

By bne IntelliNews August 22, 2014

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
TOTAL LOANS 224,897 243,267 243,879 8.4% 0.3%
- 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%
Nonfinancial Corporations 132,197 140,545 140,152 6.0% -0.3%
- 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%
Households 91,756 101,579 102,582 11.8% 1.0%
- 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          

Related Articles

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

North Macedonia banks' loan portfolio expands 5.3% y/y, deposits up 8% y/y at end-October

The total loan portfolio of North Macedonia’s commercial banks expanded by an annual 5.3% at the end of October to MKD437.7bn (€7.1bn), slowing slightly from a 5.8% y/y increase in the previous ... more

Dismiss