Consumer credits in RON slow down

Consumer credits reached 32.5 billion RON (equivalent to 9.57 billion euros) in February, experiencing a 91% increase against the same period last year. Therefore the share of lending in RON of total consumer credit fell to less than 70% in February, from 71% at the end of last year, and almost 72% in February 2006. Credits in RON have been slowing down each month since last summer compared with credits in foreign currencies. The difference between the two trends was particularly visible in February, when funding in RON increased by just 1.5% against the almost 6% rate of credits in foreign currencies. On the other hand, the comparison base affects the growth pace, which is still significantly higher for funding in RON. At the end of February, the volume of consumer credits in local currency reached 22.58 billion RON (6.6 billion euros). Under the circumstances, the annualised growth rate of the consumer credits decreased to 85% in February, from over 110% at the beginning of last autumn.