In February, new loans amounted to 6.3 billion lei, an increase of 10.6% compared to January. Moldovans prefer to borrow in lei (76.5%), most often taking out loans for periods between two and five years, IPN reports.

According to the National Bank of Moldova, the average nominal interest rate on new loans issued in the national currency increased by 0.02 percentage points compared to the previous month, reaching 8.41%. Meanwhile, the average rate on foreign currency loans rose by 0.12 percentage points to 5.69%.

Individuals took out loans totaling 2.1 billion lei in February, up 4.6% from January, with the majority (53.1%) being consumer loans. Most consumer loans were granted in Moldovan lei for terms ranging from two to five years.

Real estate loans accounted for 46.6% of the total new loans granted to individuals, and they were issued exclusively in the national currency.

The average interest rate on consumer loans in lei increased by 0.09 percentage points to 10.62%.

In February, legal entities took out new loans totaling 4.1 billion lei, marking a 13.1% increase compared to the previous month. The majority (61.5%) of all new loans issued by banks in February were contracted by non-financial commercial enterprises.