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

By bne IntelliNews November 21, 2023

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 month, the central bank said on November 21.

Total deposits increased by 8% y/y to MKD508.8bn, following a 8.9% growth a month earlier.

Annual growth in loans was due to higher lending to both sectors, with a more pronounced contribution coming from the growth of the household sector.

Month-on-month, loans edged up 0.3% at the end of October, after moving up 0.4% in the previous month.

Loans to companies were higher by an annual 4.1% in October to MKD208.5bn. Household lending grew by 6.3% y/y to MKD226.6bn. On a monthly basis, corporate loans edged up by 0.1% while household loans were higher by 0.5%.

The corporate sector’s deposits jumped by 14.1% y/y to MKD148.3bn at end-October. Households’ deposits were higher by 6.8% y/y to MKD335.7bn.

Total deposits went down by 0.3% m/m in the tenth month of this year.

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