May 8 (SeeNews) - Bank deposits in Croatia decreased by 900 million euro ($994 million), or 1.7% month-on-month in March, falling for a third consecutive month, transaction-based figures of the central bank showed.
“The decrease in deposits was mostly attributable to the refinancing of external public debt by domestic debt,” the central bank said in a press release on Wednesday.
On an annual level, the growth in total corporate deposits slowed down to 14.9% in March from 15.9% in February and household deposits growth decelerated to 8.4% from 9.1%.
Loans to domestic sectors grew by 300 million euro or 0.9% month-on-month in March, predominately reflecting a rise in lending to households, of 200 million euro, or 1.1%.
“Stronger growth in housing loans can be expected in the upcoming months following a new round of the housing loans subsidy programme, in which receipt of applications for subsidies started in the beginning of the second decade of March,” the central bank said.
Loans to non-financial corporations and other non-banking financial institutions also grew moderately, it added.
In the sector of non-financial corporations, investment loans increased and working capital loans declined. On an annual level, the growth in loans to non-financial corporations decelerated to 15.4% in March from 20.1% in February following a much stronger growth in corporate loans in March last year.
The annual growth in household loans accelerated to 6.0% from 5.8%, reflecting a rise in general-purpose cash loans to 4.3% from 3.5%, while housing loans decelerated to 9.6% from 9.8%.
($ = 0.905 euro)