Wednesday, December 17, 2008

Bank credits rise 39.6% y/y at end October.

Source: Intellinews - Macedonia Today

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Bank credits rise 39.6% y/y at end October. The credit portfolio of the domestic banking system rose 39.6% y/y to MKD 163.3bn (EUR 2.6bn) at the end of October, accelerating from 38.4% as of end-September, according to data released by the central bank. Household loans increased faster at 46.3% y/y to MKD 65.28bn while corporate credits rose by 35.5% to MKD 97.67bn. Domestic banks deposit portfolio rose 18.9%y/y to MKD 147.13bn. As recalled, the central bank introduced regulation in order to bring the monthly credit growth to under 40% y/y, that envisage additional mandatory deposit for each consumer credit. Banks must transfer a deposit equivalent to the full credit value to a central bank’s account, with an interest of 1%.

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Bank credits rise 39.6% y/y at end October.

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