The bank lending activity in 2015 slowed down and the value of new loans provided in Moldovan lei decreased by 35% compared with a year ago, the governor of the National Bank Dorin Dragutanu said in a news conference on February 4. He noted that the situation in the banking sector is stable, IPN reports.

The average interest rate on loans in national currency in the fourth quarter of 2015 was 15.7%. The governor said that the economic entities do not take out loans not because the interest rates are high. “The companies think how to repay the loans in a period of economic recession, when exports, imports and remittances decreased and the economic activity shrunk significantly. On the other hand, the banks also started to meditate more on the issue. They now more attentively analyze the creditworthiness of the applicant entrepreneurs,” stated Dorin Dragutanu.

As regards the new deposits attracted in national currency, their value rose by 28% last year. The average interest rate on deposits in lei in the fourth quarter of last year was 13.7%, an increase of 1.86 percentage points on the third quarter of 2015. “Surely, if we compare the situation with 2014, fewer deposits are attracted, but the people continue to deposit money into banks. So, they have confidence in them,” he said.

Dorin Dragutanu declared that the situation in the banking sector is stable. “The special surveillance regime instituted at Moldova Agroindbank, Moldinconbank and Victoriabank will continue until need be. The given banks have enough liquidity. Work is done to remove the rate of bad loans at these banks and to ensure bank ownership transparency there,” he stated.

He also said that the investigation into the frauds at Banca de Economii, Banca Sociala and Unibank performed by Kroll goes on. The contract between the National Bank and Kroll is valid for two years and it was signed only four months ago. When there are data that can be made public, the press will be informed.