The new loans granted in October amounted to 6.925,9 billion lei, 10.2% up compared to September. As for the terms, the loans repayable in 2 to 5 years remained the most popular ones and accounted for 53.8% of the total, IPN reports.

The National Bank of Moldova noted that the loans in national currency represented a major share of 74.2%, totaling 5.135,8 billion lei, an increase of 8.1% compared to the previous month.

The average nominal rate on new loans granted in national currency decreased by 0.16 percentage points as opposed to the previous month to 8.25%, while the average rate on new loans in foreign currency decreased by 0.09 percentage points to 5.87%.

Individuals in October took out loans amounting to 2.245,3 billion lei, 12.9% up against September. Some 53.8% of these loans were consumer loans. Most of the consumer loans granted to individuals (1.061,5bn lei) were released in national currency for terms of 2 to 5 years.

Real estate loans accounted for 46% of the total new loans granted to individuals and were raised only in national currency

The average rate on consumer loans provided in national currency increased by 0.07 percentage points to 10.48%. The average rate on home loans granted in national currency declined by 0.19 percentage points to 6.97%.

Compared with the previous month, legal entities in October applied for more loans in national currency (+3.7%). The volume of loans in foreign currency grew by 20%, while the volume of loans pegged to the exchange rate decreased by 65.6%.

Most of the new loans (59.3%) were taken out by non-financial corporations. The average rate on loans granted to legal entities in national currency decreased by 0.12 percentage points to 7.72%. The average rate on loans in foreign currency declined by 0.09 percentage points to 5.87%.