More expensive loans, due to NBM monetary policy

In April 2022, the new loans granted constituted 3 672, 5 million lei, up 0, 7 percent compared to April 2021, according to the data of the National Bank of Moldova.

The most requested were the loans with terms from 2 to 5 years, with a share of 52,6% in the total granted credits. The volume of these credits granted to businesses constituted 37% of total loans.

Compared to the previous month, the average rate on loans in the national currency increased by 0,62 percentage points (p.p.). Legal persons were granted loans with an average rate of 9,85%, private entities who practice activities-at a rate of 11,76%, and to other private entities-with a rate of 10,67%.

The amount of loans in the national currency granted to natural persons, in April 2022, decreased compared to the previous month by 13,0% and constituted 897.2 million lei. The average rate at these credits increased by 0.35 p.p.

From the perspective of the purpose of the credits granted to private entities, the consumer loans held the highest weight (66.7 percent) and were granted with an average rate of 11, 72 percent (+0,38 p.p. compared to the previous month and + 6,46 p.p. compared to April 2021).

The average rate for real estate loans increased by 0,13 p.p compared to the previous month and by 1,69 p.p. compared to April 2021.

88,9% of the total real estate loans were granted in the national currency. Consumer loans also were granted, mainly, in the national currency (99,6 % of the total consumer credits).

The increase of the credits is due to the tightening of the monetary policy of the NBM. On May 5, the monetary policy rate was increased by 3 percentage points to 15,50%.

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