Skopje, 21 August 2023 (MIA) - In July, total loans registered a monthly decrease of 0.2%, while household loans increased by 0.4% compared to the previous month, corporate loans registered a monthly decrease of 0.9%. Analyzed on an annual basis, the growth equals 5.8%, as a result of the increase in lending to both sectors, with a larger contribution of the household sector, the National Bank said in a press release on Monday.

“In July, household loans increased by 0.4% compared to the previous month, largely due to the increased lending in denars, amid positive contribution of foreign currency loans. Compared to July 2022, household loans increased by 6.4%, which, amid growth of denar and foreign currency loans, is largely due to growth of foreign currency loans,” reads the press release.

According to the press release, in July, analyzing the purpose of loans granted to individuals, consumer and housing loans, as the most common categories, registered a monthly growth of 0.5%, respectively, amid an annual growth of 6.2% and 11.0%, respectively. In July, car loans increased by 3.9% and 14.8% on a monthly and annual basis, respectively, while credit card loans registered a monthly and annual decline of 0.2% and 1.6%, respectively. This month, overdrafts and loans granted on other basis registered a monthly decrease of 1.5% and 0.6%, respectively, as well as an annual decline of 2.8% and 17.5%, respectively.

“This month, corporate loans registered a monthly decrease of 0.9%, due to the decline in denar and foreign currency loans, with a more pronounced contribution of foreign currency loans. The annual growth amounts to 5.0% and is due to the increased denar and foreign currency loans, with a larger share of foreign currency loans in the growth,” reads the press release.

In July 2023, the broad money (monetary aggregate M31,2) registered monthly growth of 0.2%, which is due to the increase in short-term deposits and currency in circulation, given the decline in long-term deposits up to two years and demand deposits. The broad money increased by 8.6% on an annual basis, mostly due to higher demand deposits, amid additional positive contribution of short-term deposits, long-term deposits up to two years and currency in circulation, according to the press release.

In July, total deposits increased by 0.5% on a monthly basis, due to the growth of deposits in both sectors, which is more pronounced in the corporate sector. The annual growth of total deposits of 11.1% reflects the deposit growth in both sectors, with a slightly larger contribution of the household sector.

The press release said that in July, the total corporate deposits increased by 1.0% on a monthly basis, due to the growth in short-term denar deposits and foreign currency deposits, and to a lesser extent to the long-term denar deposits, amid decline in long-term foreign currency and demand deposits. Compared to the same month last year, corporate deposits grew by 18.9%, due to the growth in all components, with the largest contribution of demand deposits and total short-term deposits.

“In July, household deposits registered a monthly growth of 0.1%. The minor positive change reflects the increased long-term foreign currency and denar deposits, amid a decline in other components. Analyzed annually, these deposits are higher by 8.4%, due to the growth of demand deposits and total long-term deposits, amid decline in short-term deposits,” the National Bank said in a press release.

Photo: National Bank