Mortgage loans resume growth in April, while consumer loans continue to fall

Mortgage loans managed to resume growth in April – if the exchange rate impact is eliminated – after two consecutive months of decline, but bankers remain sceptical and expect fresh positive news before they can put their faith in a market rebound. However, the contraction of consumer loans continued. The overall volume of consumer loans granted on the Romanian market fell to 74.1 billion RON (17.6 billion euros) on the Romanian market, by 1.15% in RON, less than in the previous month, according to statistics of the NBR (National Bank of Romania). For loans in RON, the decline in the overall volume amounts to 0.2%, while for foreign currency loans, it stands at 2.09%. However, due to the NBR calculating the volume of loans (foreign currency ones included) in RON, the data are distorted by the progression of the exchange rate. The decline in the sector of foreign currency loans is visibly smaller if the RON’s appreciation against the euro in the March-April period is excluded.