Commercial banks increase volume of crediting despite increase of interests

Commercial banks from Moldova gave credits in August amounting to MDL 1 bln 457 mln, by MDL 332.7 more compared with July. Of the total volume of offered credits, MDL 782.3 mln were in national currency and 674.8 mln in foreign currency, the monthly report of the National Bank shows. The volume of credits offered in MDL increased during the reported period by MDL 123.7 mln or by 18.8%. The share of credits offered to legal persons of the total volume of credits provided in national currency constitutes 80.1%. In the structure of credits offered to legal persons, the highest share is registered at long-term loans of over 12 months – 55.5%, by 2.4 percentage points more, followed by the credits offered within 6-12 months – 27.1%. In August, the medium rate of the interest for credits offered in national currency increased by 0.68 percentage points, up to 18.29%. This growth was caused by the increase by 0.69 percentage points of the medium rate for the credits offered to legal persons, up to 17.79%, and those offered to natural persons by 0.43 percentage points, up to 20.30%. The National Bank specifies that the volume of credits in foreign currency offered to legal persons amounted to MDL 672.1 mln. This sum is equal to USD 50.4 mln, by USD 15.5 mln more than in July 2006. In the structure of credits provided in foreign currency, the biggest share is registered at the 12 month credits – 59% of the total amount, by 0.8 percentage points more compared with the previous month. The medium rate of the interest for these types of credits constituted 10.78%. At the same time, the share of the credits offered up to 1 month decreased by 6.2 percentage points up to 2.7% of the total amount. The medium rate of the credits in foreign currency offered to legal persons has diminished by 0.19 percentage points and constituted 10.92% in August 2006.