Macedonia's corporate sector deposits post 11.3 pct year-on-year growth

The total deposits of the corporate sector in Macedonia registered an annual growth of 11.3 percent in September 2016, while on monthly basis the deposits fell by 3.8 percent, national bank of Macedonia said on Friday.

The total loans of the corporate sector saw a monthly increase of 0.3 percent, the national bank said in a press release, adding that annually, the loan growth is in the negative zone for the fourth consecutive month. The growth rate fell by 1.2 percent in September 2016.

If the effect of the transfer of suspicious and contested claims from the on-balance sheet to the off-balance sheet record is excluded, pursuant to the National Bank decision, the loan growth of the corporate sector would equal 5.3 percent, Macedonia's national bank press release cited.

Meantime, during September, the total deposits registered a decrease of 0.4 percent on a monthly basis while annually they increased by 4.0 percent.

On the other side, official data showed that the total loans in September increased by 0.5 percent on a monthly basis, while annually, the growth rate equals 2.5 percent.

Considering the purpose of use of loans, data of the national bank of Macedonia confirmed that the consumer and housing loans extended to natural persons saw a monthly increase of 0.9 percent and 0.8 percent, respectively, while the annual growth amounted to 14.8 percent and 13.8 percent, respectively. Endit