In December 2024, Lithuanian residents increased their savings and borrowing. Supplemented with new charts on corporate interest rates.
Balance Sheet and Interest Rates of Monetary Financial Institutions, December 2024
Today, Lietuvos bankas published the monetary financial institution (MFI) balance sheet and interest rate data for December 2024, which show that:
- overnight deposits of Lithuanian households held with credit institutions rose by 6.8% and deposits with agreed maturity went up by 1.6%;
- loans granted by credit institutions to Lithuanian non-financial corporations grew by 2.2%, whereas those to households increased by 0.7%;
- interest rates on loans for house purchase granted to Lithuanian households slightly decreased, but those on loans for consumption and other purposes went up;
- interest rates on loans granted to Lithuanian non-financial corporations fell, while those granted to households increased;
- interest rates on deposits of Lithuanian households and non-financial corporations recorded a decrease;
deposits of Lithuanian residents with credit institutions rose1 by €898.4 million, or 2.1%, over the month (their annual growth rate2 was 9.1%). Deposits of households and non-financial corporations increased by €1.3 billion (5.1%) and €91.4 million (0.8%) respectively (their annual growth rates stood at 12.1% and -0.4% respectively). At the end of the month, household and non-financial corporation deposits amounted to €25.7 billion and €10.9 billion respectively. Loans to the financial3 sector grew by €87.1 million, whereas those to general government declined by €530.4 million. At the end of the month, these deposits amounted to €1.5 billion and €5.2 billion respectively;
Chart 1. Deposits of Lithuanian residents, excluding MFIs, with other MFIs (outstanding amounts, end-of-period) |
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overnight deposits of Lithuanian households held with credit institutions rose by €1.1 billion, or 6.8%, while those of non-financial corporations increased by €91.5 million, or 1.0%, month on month. At the end of the month, the outstanding amounts of overnight deposits of these sectors stood at €17.6 billion and €9.0 billion respectively. Deposits with agreed maturity of households held with credit institutions rose by €123.2 million, or 1.6%, while those of non-financial corporations declined by €8.3 million, or 0.5%. The outstanding amounts of these deposits stood at €7.9 billion and €1.8 billion respectively;
loans granted by credit institutions to Lithuanian residents increased by €340.2 million, or 1.1%, month on month (their annual growth rate was 11.5%). Loans to Lithuanian non-financial corporations and households went up by €260.4 million (2.2%) and €107.7 million (0.7%) respectively (their annual growth rates stood at 13.4% and 9.8% respectively). Loans to the financial sector and general government decreased by €20.8 million and €7.1 million respectively. At the end of December 2024, loans to these sectors amounted to €12.2 billion, €15.9 billion, €1.8 billion and €382.2 million respectively (see Chart 2);
Chart 2. Loans granted by other MFIs to Lithuanian residents, excluding MFIs (outstanding amounts, end-of-period) |
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loans for house purchase and consumption granted by credit institutions to Lithuanian households increased by €99.1 million and €30.8 million, or 0.8% and 2.2% respectively, month on month, whereas loans for other purposes decreased by €22.1 million, or 1.7%. In December, the outstanding amounts of these loans totalled €13.2 billion, €1.4 billion and €1.3 billion respectively (see Chart 3), and their annual growth rates stood at 8.7%, 33.4% and 1.1% respectively;
Chart 3. Loans granted by other MFIs to Lithuanian households (outstanding amounts, end-of-period) |
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interest rates4 on new business of loans5 granted to households by credit institutions went up by 0.16 percentage points to 5.91%. Interest rates on loans for house purchase declined by 0.19 percentage points, while those on loans for consumption and other purposes increased by 0.05 percentage points and 0.31 percentage points respectively. In December 2024, interest rates on these loans comprised 4.36%, 9.26% and 8.38% respectively (see Chart 4);
Chart 4. Interest rates on new business loans for households |
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interest rates on new business of household deposits with agreed maturity held with credit institutions decreased by 0.11 percentage points month on month to 2.70%. Interest rates on deposits with agreed maturity of up to 1 month increased by 0.08 percentage points, while interest rates on deposits of 1 to 6 months, 6 months to 1 year, 1 to 2 years and from 2 years onwards went down by 0.05, 0.12, 0.09 and 0.45 percentage points respectively. Interest rates on these deposits comprised 1.9%, 2.65%, 2.82%, 3.05% and 2.65% respectively in December 2024 (see Chart 5);
Chart 5. Interest rates on new business deposits with agreed maturity of households |
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interest rates on new business of loans to non-financial corporations decreased by 0.18 percentage points month on month to 5.27%. Interest rates on new business of loans up to €1 million and over €1 million decreased by 0.06 and 0.20 percentage points respectively. In December, interest rates on these loans totalled 5.34% and 5.26% respectively (see Chart 6);
Chart 6. Interest rates on new business of loans to non-financial corporations |
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interest rates on new business of non-financial corporation deposits with agreed maturity decreased by 0.10 percentage points to 2.63%. Interest rates on deposits with agreed maturity of up to 1 year and from 1 year onward declined by 0.11 and 0.04 percentage points respectively. In December 2024, interest rates on these deposits comprised 2.63% and 2.40% respectively (see Chart 7).
Chart 7. Interest rates on new business of non-financial corporation deposits with agreed maturity |
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Detailed data on MFI assets and liabilities is available on Lietuvos bankas’ website under MFI balance sheet and monetary statistics.
Detailed data on MFI interest rates is available on Lietuvos bankas’ website under MFI interest rate statistics.
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1 Unless otherwise specified, monthly changes in euro are presented as transactions, i.e. calculated by taking the difference between end-of-month outstanding amounts and 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 financial sector consists of Lithuania’s investment funds and other financial intermediaries, as well as insurance undertakings and pension funds.
4 Weighted interest rates on new business during the reporting month, in percentages per annum.
5 New business covers financial contracts that specify for the first time the interest rate on a loan or the deposit rate, and contracts for existing loans or deposits, which were renegotiated. New business does not cover revolving loans and overdrafts, as well as credit card debt. New business deposits do not cover automatic renegotiations of existing deposit contracts.
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