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          
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Macedonia’s ex-PM Gruevski fears for his life, asks for additional bodyguards

Macedonian ex-prime minister and opposition leader Nikola Gruevski is seeking at least 20 more bodyguards from the state police, as he says he fears his life is threatened. Gruevski, leader of the ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Macedonia’s opposition VMRO-DPMNE tries to block parliament's work

Macedonia’s opposition VMRO-DPMNE party is trying to block the work of the parliament by forming 10 parliamentary groups instead of the single group that is normal for a political party.  ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    1 day ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  3. Ukrainian farmers turn to Donbas veterans for protection from raiders
    2 days ago
  4. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    3 days ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    7 days ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    1 day ago
  2. CHINA RISING: When sleeping giants meet
    16 days ago
  3. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  4. Belarus’ retail king Euroopt goes on the road
    22 days ago
  5. STOLYPIN: Russia’s cyber-challenge cuts both ways
    24 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss