April money market: Individuals and companies avoid the euro

Loans dropped one percent in April compared to March, similarly for individuals and companies. Foreign currency lending dropped more abruptly, and was compensated by a reduction of only 0.5 percent in lei-denominated loans. The monthly drop rate of lending slowed, after a 2.1 percent decline in March.

In annual terms, lending slowed its growth pace at 18.9 percent, while retail foreign currency loans surged 33.3 percent and corporate lei-denominated loans rose by a mere 6.5 percent. Deposits grew on the whole by 0.3 percent month-on-month, fueled only by the population’s savings in lei, which increased 2.3 percent. Annually, deposits soared by a weighted average of 12.5 percent, due to an increase by over 20 percent in the population’s deposits.