Bank loans grew by 64 percent month-on-month in Slovakia in February, after a 50-percent drop was recorded in January, according to statistics from the Slovak Central Bank (NBS) released on March 30, the TASR newswire wrote.
Loans to companies increased by 62 percent m-o-m to €757 million, out of which new operation and investment loans grew by 70 percent, while real-estate loans went up by 17 percent. Other types of loans recorded an increase of one-third m-o-m in February.
The reason behind this significant increase is that January is usually a weak month for new loans which leads to banks recording more significant loan growth in the following month. The m-o-m increase in loans in February of last year, however, stood at a much lower figure of just 15 percent.
Loans to individuals increased significantly m-o-m as well in February, by 72 percent to €253 million. The biggest growth was seen in consumer loans - 93 percent, followed by real-estate loans - 66 percent, and other loans - 59 percent. For comparison, loans to individuals increased by 12 percent m-o-m in February 2008. TASR
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
31. Mar 2009 at 10:00