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Volume of new bank loans fell 0.5 percent in December

In December 2008 the volume of new loans banks provided to clients in Slovakia fell 0.5 percent month-on-month (m/m) to Sk172.845 billion (€5.737 billion).

In December 2008 the volume of new loans banks provided to clients in Slovakia fell 0.5 percent month-on-month (m/m) to Sk172.845 billion (€5.737 billion).

The National Bank of Slovakia (NBS), in a report on loans provided by Slovak bank institutions, said that the volume of loans provided to households as well as to corporate entities fell. The commercial sector reported a drop of 1.5 percent m/m and the volume of new loans provided to personal clients fell 1.7 percent, the SITA wrote.

The volume of new loans provided to corporate clients reached Sk115.729 billion (€3.841 billion) in December. Behind the m/m fall was a decline in the volume of current account overdraft facilities by nine percent to Sk88.603 billion (€2.941 billion) and a drop in real estate loans by 26.1 percent to Sk2.389 billion (€79.3 million). On the contrary, operating capital loans grew 68 percent to Sk12.681 billion (€420.9 million) and investment loans by 17.3 percent to Sk6.296 billion (€209 million).

New loans provided to personal clients represented Sk27.605 billion (€916,300 million) in December. According to the central bank, their m/m rate of decline slowed, as they dropped eleven percent m/m in November. Real estate loans posted a growth of 2.4 percent to Sk6.164 billion (€204.6 million). The volume of current account overdrafts decreased by 2.8 percent to Sk13.262 billion (€440.2 million) and consumer loans shrank 5.9 percent to Sk1.919 billion (€63.7 million). The overall volume of loans provided to clients includes loans provided to non-financial institutions, other financial intermediators, insurance companies, pension funds, public administration, non-governmental institutions serving households, personal clients, self-employed persons and non-residents. SITA

Compiled by Zuzana Vilikovská from press reports
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