In May, new loans amounted to 4.80 billion lei, down 12.8% compared to April. Most loans, or 77.8%, represents credits in the national currency, which constituted 3.74 billion lei, down 10.1% compared to the previous month, the National Bank of Moldova reported.

By maturity, the most popular were the loans with terms from 2 to 5 years, or 57% of the total. Business loans accounted for 36.3% of this.

The average nominal rate for new loans granted in the national currency decreased by 0.01 point compared to the previous month and constituted 9.18%, and the average rate for those in foreign currencies increased by 0.05 point to 6.09 %.

In May, individuals took out loans in the amount of 1.58 billion lei, down 8.45% compared to the previous month, most of them, or 67.5%, being consumption loans. Most individual loans, or 0.97 billion lei, were granted in the national currency for terms ranging from 2 to 5 years.

Real estate loans account for 32% of all new loans granted to individuals, being mainly contracted in the national currency (99.8% of all real estate loans).

The average rate on consumer loans granted in the national currency increased by 0.05 point  to 11.09%, and the average rate on loans granted in the national currency for buying real estate increased by 0.09 point to 7.71%.

Compared to the previous month, businesses took out fewer credits in the national currency in the reference month (-9.1%). The volume of foreign currency loans decreased by 21.9%, and those attached to the currency rate decreased by 20.5%.

Most new loans, or 60.9%, were taken out by non-financial commercial companies. The average rate on loans granted to legal entities in the national currency decreased by 0.02 point to 8.51%. At the same time, the average rate on loans granted in foreign currency increased by 0.04 point to 6.08%.