More Loans to Households
Data on money supply published by the NBP in July 2011 show an increase in the receivables of both households and non-financial corporations.
July saw a slight expansion in money supply – by PLN 1.3 bn, to PLN 797.5 bn. Deposits of households rose by PLN 4 bn. and reached PLN 439.8 bn at the end of the month. NBP analysts emphasise that the annual growth in savings deposited with banks has been very stable recently.
Households were relatively willing to incur loans in July, but overall credit to households was additionally boosted by the appreciating Swiss frank. Total credit to households increased by PLN 13.4 bn. in the course of the month, coming up to PLN 516 bn. Since the beginning of the year, the debt owed to banks by this client segment rose altogether by 7.6%.
A more substantial expansion in lending is observed in the non-financial corporations segment. In July, the amount of credit to non-financial corporations increased by PLN 3.2 bn and reached PLN 239.5 bn at the end of the month. At the same time, deposits of non-financial corporations fell by the total of PLN 4.4 bn, i.e. to PLN 172.5 bn.
See complete money supply data August 2011