Loans in North Macedonia record annual growth of 14.1%, with housing loans dominating

Bank lending in the country is expanding at a faster pace than deposits. Data for September show that total loans increased by 14.1 percent compared with the same month last year, with growth evident both among households—particularly housing loans—and in the business sector.

According to the National Bank, overall lending increased by 1.3 percent in September compared with August. Within the household portfolio, housing loans recorded the largest annual increase, at 16.1 percent. Consumer loans rose by 12.4 percent, while total household loans increased by 12.7 percent.

Companies also benefited from a significant increase in bank financing. Loans to enterprises were 15.7 percent higher than in September a year earlier. The National Bank estimates that this development was driven mainly by denar lending, although foreign-currency loans also increased.

Bank deposits also expanded during the same period. In September, they increased by 9.2 percent year on year. Household deposits recorded the same growth rate, while companies’ savings rose by 8.6 percent.

14.1% – Annual growth in total loans. 16.1% – Annual growth in housing loans. 9.2% – Annual growth in household deposits – National Bank of the Republic of North Macedonia

At the end of September, the outstanding obligations of citizens and companies to banks amounted to approximately 9.87 billion euros, according to data reported for this period. /Alsat/