Individuals, companies in Romania turn to foreign currency loans as overall crediting up in October

Both individuals and Romanian-based companies proved a little greedier in October as loans granted to both categories rose 3.3 percent against the previous month, with foreign currency credits being their favorite dish, according to the Central Bank of Romania (BNR).

Total lending to individuals and Romanian-based companies went up 51.4 percent year-on-year in October, to 133.3 billion lei (40 billion euros.)

Both lei and foreign currency loans rose 3.3 in October against September. Lei credits totaled 64.7 billion lei (19.4 billion euros) while foreign currency credits stayed at 68.63 billion lei.

Foreign currency loans granted to population rose 5.8 percent in October against the previous month and stood at 31.18 billion lei. Lei credits to population rose 3.5 percent in the analyzed period, to 32 billion lei.

Stats say people and companies in Romania chose to save more in October against the previous month, as the value of bank deposits rose 2.5 percent in the mentioned period and the foreign currency deposits of companies took the overall lead.

Total bank deposits stood at 112.4 billion lei (33.7 billion euros). Foreign currency deposits belonging to companies showed an 8.5 percent advance in October against September, to 14.8 billion lei. The foreign currency deposits of individuals rose 2 percent in the analyzed period, to 21.25 billion lei.

The Money Channel