Bank loans in Slovakia pick up in June but remain at low levels

The lending by Slovakia’s banks to corporations increased slightly in June compared to May but were significantly down year-on-year according to an updated report on bank lending released by Slovakia’s central bank (NBS) on July 27, the TASR newswire reported.

The lending by Slovakia’s banks to corporations increased slightly in June compared to May but were significantly down year-on-year according to an updated report on bank lending released by Slovakia’s central bank (NBS) on July 27, the TASR newswire reported.

June corporate loans were up 0.5 percent compared to May to stand at €643 million but were 44 percent less on an annual basis. Last month's lending to households saw a monthly rise of 14 percent to €352 million but an annual drop of 18.5 percent.

Commercial banks in Slovakia provided mortgages and housing-related loans amounting to €237 million in June 2009, thereby topping the €200-million mark for the first time this year, TASR wrote, quoting an NBS report. Compared to May 2009, the volume of housing loans went up by 22 percent. However, the amount of these types of loans provided in the first six months of 2009 decreased by 19 percent compared to the same period of 2008.

The cumulative volume in this sphere to June 2009 stood at €8.78 billion, which represents a 17-percent rise year-on-year. Interest rates on new loans stood at 5.9 percent in June, down by 0.2 percentage points month-on-month. This brought rates to below 6 percent for the first time this year, while it was 6.2 percent in June 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.

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