​INTEREST RATE ON CREDITS IN LEI FELL TO 10.03% OVER HALF-YEAR

The interest rate on credits in Moldovan lei diminished from 12.29% to 10.03% in July-June 2014.

According to the “Moldovan Economy Trends” report by Institute for Economic Researches of the Moldovan Academy of Sciences, such decline in interest rates became the most notable over the recent time. A considerably smaller decline in interest rates occurred in credits in foreign currency – from 7.83% to 7.78%.

The Institute says that over the first half-year, banks have cut the interest rates on deposits in national currency to the average rate of 4.92% against 5.91% in January 2014. Terms of attracting deposits in foreign currency have also been reduced: from 4.6% in January to 3.85% in June 2014.

The bank margin on transactions in Moldovan lei was on average 4.59% in the first half of 2014, falling by 2.1% against December 2013. In June 2014, the margin registered the current year’s lower rate – 3.67%.

The document notes that according to January-June results, all the 13 banks of Moldova were meeting the requirements on the first level capital worth 200 million lei, except EuroCreditBank, which has this rate worth 176.81 million lei. However until late November, the EuroCreditBank shareholders will carry out an emission worth 30 million lei, which will allow the bank even to exceed the requirements on this norm.