2022-12-29
Deposits of Lithuanian residents with credit institutions increased by 0.7% in November
Balance Sheet and Interest Rates of Monetary Financial Institutions, November 2022
Today, the Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for November 2022, which show that:
deposits of Lithuanian residents with credit institutions rose1 by €268.3 million, or 0.7%, over the month (the annual growth rate2 stood at 7.0%). Non-financial corporation deposits went up by €206.4 million, or 2.1%, while household3 deposits contracted by €17.4 million, or 0.1% (their annual growth rates stood at 6.8% and 3.2% respectively). General government and financial sector4 deposits grew by €68.0 million and €11.3 million respectively in November and amounted to €4.4 billion and €961.2 million respectively at the end of the month. At the end of November 2022, non-financial corporation and household deposits amounted to €10.0 billion and €20.7 billion respectively (see Chart 1);
overnight deposits of Lithuania’s non-financial corporations with credit institutions grew by €149.1 million, while those of households decreased by €47.2 million over the month, to €9.6 billion and €17.0 billion respectively;
loans granted by credit institutions to Lithuanian residents increased by €119.8 million, or 0.5% month on month (the annual growth rate stood at 15.3%). Loans to Lithuanian households and non-financial corporations increased by €79.8 million and €6.4 million respectively over the month, or 0.6% and 0.1% respectively (their annual growth rates stood at 11.8% and 17.3% respectively and decelerated for the second consecutive month). Loans to the financial sector and general government grew by €31.3 million and €2.3 million respectively. At the end of November 2022, loans to these sectors amounted to €13.6 billion, €10.2 billion, €2.0 billion and €335.0 million respectively (see Chart 2);
loans for house purchases and consumption granted by credit institutions to Lithuanian households increased by €78.3 million and €8.5 million respectively month on month, while loans for other purposes decreased by €7.1 million to €11.3 billion, €928.8 million and €1.3 billion respectively (see Chart 3);
interest rates5 on new business of loans6 granted to households by credit institutions went up by 0.43 percentage points to 5.31%. Interest rates on loans for house purchases, consumption and other purposes rose by 0.25 percentage points, 0.11 percentage points and 2.34 percentage points respectively. Interest rates on these loans comprised 4.09%, 9.05% and 7.16% respectively in November 2022 (see Chart 4.).
| Chart 1. Deposits of Lithuanian residents, excluding MFIs, with other MFIs (outstanding amounts, end-of-period) |
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| Chart 2. Loans granted by other MFIs to Lithuanian residents, excluding MFIs (outstanding amounts, end-of-period) |
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| Chart 3. Loans granted by other MFIs to Lithuanian households (outstanding amounts, end-of-period) |
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| Chart 4. Interest rates on new business loans for households |
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Detailed data on MFI assets and liabilities is available on the Bank of Lithuania website under MFI balance sheet and monetary statistics.
Detailed data on MFI interest rates is available on the Bank of Lithuania website under MFI interest rate statistics.
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1 Unless otherwise specified, monthly changes in euro are presented as transactions, i.e. they are calculated by taking the difference between end-of-month outstanding amounts and then removing the effects of revaluation adjustments, exchange rate adjustments, loan write-offs and reclassifications.
2 The annual growth rate is calculated as a percentage change in the base index of transaction-adjusted outstanding amounts over the year.
3 The household sector consists of households and non-profit institutions serving households.
4 The financial sector consists of Lithuania’s investment funds and other financial intermediaries, as well as insurance undertakings and pension funds.
5 Weighted interest rates on new business during the reporting month, in percentages per annum.
6 New business covers financial contracts that specify for the first time the interest rate on a loan, and existing loan contracts which were renegotiated. New business does not cover revolving loans and overdrafts, as well as credit card debt.
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