Bank lending down 5.7% in March y-o-y

Bank lending continued to fall in March 2016, contracting by 5.7% compared with March 2015, as a result of a partial write-off of loans indexed to the Swiss franc, further household deleveraging and weaker corporate demand on the domestic market, Raiffeisenbank Austria (RBA) says.

At the end of March 2016, the total amount of loans granted stood at HRK 266.7 billion, which was 3.4 billion or 1.3% less than in February 2016 and HRK 16.2 billion or 5.7% less than in March 2016.

The annual decline was also partly due to a drop in foreign currency-pegged loans.

On the other hand, kuna-denominated loans increased by 3% from February 2016 to HRK 82.3 billion. Compared with March 2015, kuna-denominated loans rose by HRK 6.9 billion or 9.1%.

Continued deleveraging was observed in dominant sectors. Corporate lending contracted by HRK 5.1 billion or 5.5% from March 2015 to HRK 88 billion, while household loans, which accounted for 44% of all lending, fell by 8% year on year to HRK 118.3 billion.

(EUR 1 = HRK 7.51)

Last update: Thu, 05/05/2016 - 12:13
Author: 

Related

Bank lending down to HRK 267bn in May

Croatia

Wednesday, July 20, 2016 - 10:42

Bank lending down 0.6% y-o-y

Business

Sunday, October 25, 2015 - 12:19

Lending in Feb down EUR 2.1b year on year

Croatia

Thursday, April 7, 2016 - 09:38

More from Croatia

Museum of tastes opens in Osijek

A museum of tastes was formally opened in Osijek by Prime Minister Andrej Plenkovic on Friday on the occasion of...

PM: Tax reform's positive effects visible as soon as new system is consolidated

Prime Minister Andrej Plenkovic said on Friday that his cabinet was implementing a comprehensive tax reform and as...

Croatia world's no. 1 in organ transplants

With 40 organ donors per one million people, Croatia is the number one country in the world in organ transplants,...

SEECP ministerial meeting discusses ways to boost entrepreneurial competitiveness

ZAGREB, Dec 2 (Hina) - A ministerial meeting of the Southeast European Cooperation Process (SEECP), aimed at...

INA is strategic company of which much is expected, says economy minister

INA is a national and strategic company of which a lot is expected in the future, Croatian Deputy Prime Minister and...