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Balance Sheet and Interest Rates of Monetary Financial Institutions, September 2020

Today, the Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for September 2020, which show that:

loans granted by credit institutions to Lithuanian residents increased1 by €84.4 million over the month to €20.1 billion. Loans to Lithuanian households2 and non-financial corporations grew by €69.7 million and €19.5 million respectively, while loans to general government and the financial sector3 contracted by €2.5 million and €2.2 million respectively. At the end of the month, loans to these sectors amounted to €10.9 billion, €7.8 billion, €328.0 million and €1.1 billion respectively (see Chart 1);

loans for house purchase and consumption granted by credit institutions to Lithuanian households grew by €68.2 million and €2.0 million respectively, while loans for other purposes decreased by €0.6 million – to €8.9 billion, €745.4 million and €1.2 billion respectively (see Chart 2);

deposits of Lithuanian residents with credit institutions rose by €448.7 million over the month and by €5.8 billion over the last 12 months (to €28.8 billion at the end of the month). Household, general government, financial sector and non-financial corporation deposits increased by €195.0 million, €114.8 million, €99.5 million and €39.4 million respectively. Deposits of these sectors amounted to €16.6 billion, €3.3 billion, €816.3 million and €8.1 billion respectively at the end of the month (see Chart 3);

overnight deposits of Lithuanian households and non-financial corporations with credit institutions grew by €187.0 million and €56.6 million respectively over the month, to €12.7 billion and €7.9 billion;

interest rates4 on new business5 loans granted to households by credit institutions fell by 0.06 percentage point over the month – to 3.61%. Interest rates on loans for consumption, house purchase and other purposes increased by 0.16, 0.01 and 0.49 percentage point respectively. Interest rates on these loans comprised 8.58%, 2.33% and 6.11% respectively in September (see Chart 4).

Chart 1. Loans granted by other MFIs to Lithuanian residents, excluding MFIs
(outstanding amounts, end-of-period)
Chart 2. Loans granted by other MFIs to Lithuanian households
(outstanding amounts, end-of-period)
Chart 3. Deposits of Lithuanian residents, excluding MFIs, with other MFIs
(outstanding amounts, end-of-period)
Chart 4. Interest rates on new business of loans for households
(percentages per annum)

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.

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 household sector consists of households and non-profit institutions serving households.

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, and renegotiations of existing loan contracts. New business does not cover revolving loans and overdrafts, as well as credit card debt.

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