2022-09-27
Loans granted by credit institutions to Lithuanian residents increased in August
Balance Sheet and Interest Rates of Monetary Financial Institutions, August 2022
Today, the Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for August 2022, which show that:
loans granted by credit institutions to Lithuanian residents increased1 by €658.9 million, or 2.6%, over the month (their annual growth rate2 stood at 16.8%). Loans to Lithuanian non-financial corporations rose by €476.8 million, or 5.0%, and those to households3 by €145.4 million, or 1.1% (their annual growth rate stood at 19.9% and 12.0% respectively). Loans to the financial sector4 grew by €39.3 million, while those to general government declined by €2.6 million. At the end of August 2022, loans to these sectors amounted to €10.1 billion, €13.3 billion, €1.9 billion and €330.9 million respectively (see Chart 1);
loans to Lithuanian households for house purchase, consumption and other purposes granted by credit institutions increased by €110.9 million, €17.9 million and €16.6 million over the month, to €11.0 billion, €901.2 million and €1.3 billion respectively (see Chart 2);
deposits of Lithuanian residents with credit institutions rose by €600.8 million, or 1.8%, over the month (their annual growth rate was 4.7%). Non-financial corporation deposits went up by €475.6 million, or 5.3%, and their annual growth rate was negative (-0.1%). Household deposits grew by €38.2 million, or 0.2%, and their annual growth rate was positive (3.7%). Financial sector and general government deposits increased by €161.8 million and €1.7 million respectively over the month and amounted to €1.1 billion and €3.7 billion respectively. At the end of August 2022, non-financial corporation and household deposits amounted to €9.5 billion and €20.3 billion respectively (see Chart 3);
overnight deposits of non-financial corporations with credit institutions grew by €475.6 million, while those of households contracted by €21.0 million over the month, to stand at €9.2 billion and €16.6 billion respectively;
interest rates5 on new business of loans6 granted to households by credit institutions went up by 0.21 percentage point to 4.15%. Interest rates on loans for house purchase, consumption and other purposes rose by 0.28 percentage point, 0.02 percentage point and 0.64 percentage point respectively. In August 2022, interest rates on these loans comprised 2.74%, 8.94% and 5.92% respectively (see Chart 4).
| Chart 1. Loans granted by other MFIs to Lithuanian residents, excluding MFIs (outstanding amounts, end-of-period) |
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| Chart 2. Loans granted by other MFIs to Lithuanian households (outstanding amounts, end-of-period) |
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| Chart 3. Deposits of Lithuanian residents, excluding MFIs, with other MFIs (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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