Both deposits and crediting have increased in June 2020. Data shows that total deposits have continued to rise on monthly level due to the increase in deposits in both sectors, with a slightly more pronounced share of the corporate sector, the National Bank said in a press release Tuesday.
Total deposits are up by 8.4% on an annual basis, influenced by the increase in household deposits.
Total loans have also continued to rise on monthly level, which stems from increased lending to both sectors, with a slightly more pronounced share of the corporate sector. Annual credit growth amounts to 6.6% and is due to higher loans of both sectors, amid a greater contribution of the household sector.
The press release added that taking into account the effect of the transfer of doubtful and contested claims from on-balance sheet to off-balance sheet records, pursuant to the regulatory changes under the National Bank decision, in June, total loans registered an annual growth of 7.9%.
On annual level, deposits in corporate and household sector increased by 11.2% and 8.7% respectively.
Moreover, in June 2020, loans registered an annual growth of 4.6% in the corporate sector and 8.8% in the household sector.
Excluding the effect of write-off of doubtful and contested claims, under the National Bank decision, the annual growth in June of corporate loans equaled 6.4% and of household loans 9.6%