Loans to households for house purchase went up by 1% despite rising interest rates

The Bank of Lithuania has published the monetary financial institution (MFI) balance sheet and interest rate data for September 2022, which show that loans granted by credit institutions to Lithuanian residents increased by €282.0 million, or 1.1%, over the month (their annual growth rate stood at 17.6%), reports the Bank of Lithuania.

Loans to Lithuanian households rose by €128.2 million, or 1.0%, and those to non-financial corporations by €118.4 million, or 1.2% (their annual growth rate stood at 12.4% and 21.8% respectively). Loans to the financial sector grew by €38.1 million, while those to general government declined by €2.6 million. At the end of September 2022, loans to these sectors amounted to €13.4 billion, €10.2 billion, €1.9 billion and €328.2 million respectively.