Slovakia's annual credit growth speeds up to 7.3% in April 2012.

By bne IntelliNews June 4, 2012
The value of outstanding bank loans in Slovakia stood at EUR 42.16bn at the end of April, as their annual growth rate accelerated to 7.3% from 6.4% in the previous month, central bank data showed. Loans to corporate clients rose 3% y/y to EUR 16.3bn in April, down from a 4% annual growth in the previous month. Lending to households grew 9% y/y to EUR 17.2bn, following a yearly increase of 9.3% in the previous month. Loans for house purchase climbed 5.9% y/y to EUR 15.68bn and consumer credits jumped 14.1% to EUR 2.27bn in April. IntelliNews comment: The central bank lending activity data shows that the credit market remained relatively stable in April. We expect the lending market to lose some ground this year as corporate credit growth is set to hold back in line with the expected economic slowdown, which may also affect retail lending, as demand for loans usually dwindle in a weakening labour market. New, stricter bank regulations, which will become effective this year, will also put pressure on the lending market.
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