Slovak bank lending rises 6.3% y/y in May 2014

By bne IntelliNews July 1, 2014

The total value of outstanding bank loans in Slovakia grew 6.3% y/y to EUR 44.39bn as of end-May 2014, slowing from a 6.6% annual rise the month before, data by the central bank showed.

Commercial banks’ corporate loan book increased 1.3% y/y to EUR 15.87bn as of end-May, after a 1.6% y/y increase the previous month. Lending to households advanced by an annual 10.5% to EUR 21.4bn, following a 10.3 % rise at the end of April.

On a monthly basis, the total value of outstanding bank loans dropped by 1% from April when it rose by 1.4%.

In May alone, the Slovak banks extended a total of EUR 1.77bn in new loans, up from EUR 1.57bn in April. The new loans extended in May were also 18.9% up on the year.

IntelliNews comment: Slovakia's lending activity will continue rising in the months to come supported by an increase in private consumption amid improved consumer confidence. However, the high unemployment rate in the country along with expected stricter rules imposed by the central bank regarding mortgage loans could have a negative impact on the bank’s lending portfolio.

Loans granted, outstanding amounts, EUR mn   May-14 Apr-14 Apr-13 y/y change m/m change
Loans - total 44,389.4 44,832.8 41,762.8 6.3% -1.0%
Loans to non-financial corporations 15,870.9 16,019.2 15,671.9 1.3% -0.9%
Loans to households 21,405.4 21,162.0 19,374.4 10.5% 1.2%
Loans for house purchase 14,354.4 14,038.4 13,104.4 9.5% 2.3%
Consumer loans 3,006.4 2,946.7 2,621.5 14.7% 2.0%
New Loans, EUR mn          
New Loans - total 1,772.0 1,574.3 1,490.8 18.9% 12.6%
--operating loans 577.7 544.7 664.2 -13.0% 6.0%
--investment loans 91.9 103.8 59.4 54.6% -11.5%
--consumer loans 202.0 194.5 128.0 57.9% 3.9%
--loans for house purchases 586.1 530.4 500.5 17.1% 10.5%
----mortgages 147.4 131.5 84.7 74.1% 12.1%
----building loans 2.3 2.7 2.3 -0.8% -16.7%
----intermediate loans 43.8 47.1 48.3 -9.3% -6.9%
----other loans for house purchases 392.6 349.1 365.3 7.5% 12.4%
--other loans 314.4 200.8 138.7 126.6% 56.6%
Source: National Bank of Slovakia          
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

How Ukrainian grain wrecked the Polish grain market

The Polish grain market has been thrown into disarray by cheap Ukrainian grain that sent prices plummeting in April, causing Warsaw to impose a five-month ban, backed up by the European Commission. ... more

Slovak OFZ aims to move part of production to Uzbekistan

Metallurgical company OFZ plans to transfer part of its production from Slovakia to Uzbekistan, The Slovak Spectator has reported. The ferroalloy production company from Oravsky Podzamok has ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more

Follow Us On

Most Read

  1. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  2. Don't mention the "D" word - Ukraine
    6 days ago
  3. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    4 days ago
  5. The models are wrong, climate change is accelerating faster than predicted
    1 day ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  4. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss