loans granted by credit institutions to Lithuanian residents increased by €307.8 million month on month1 and by €613.9 million, compared to March 2020 (the onset of the COVID-19 pandemic). Loans to Lithuanian non-financial corporations, households2, the financial sector3 and the general government grew by €172.4 million, €118.2 million, €12.9 million and €4.2 million respectively month on month. Compared to March 2020, loans to Lithuanian households and the financial sector grew by €1.2 billion and €85.3 million respectively, while loans to non-financial corporations and the general government contracted by €696.8 million and €16.0 million respectively. At the end of July 2021, loans to these sectors amounted to €11.7 billion, €1.2 billion, €7.8 billion and €338.1 million respectively;
loans to Lithuanian households for house purchase, consumption and other purposes granted by credit institutions increased by €97.0 million, €14.2 million and €7.0 million over the month, to €9.8 billion, €747.7 million and €1.2 billion respectively;
deposits of Lithuanian residents with credit institutions grew by €272.2 million over the month and by €7.4 billion, compared to March 2020. Over the month, household, general government and financial sector deposits rose by €216.6 million, €64.8 million and €17.4 million respectively, while non-financial corporation deposits declined by €26.6 million. Household, non-financial corporation, general government and financial sector deposits have increased by €4.4 billion, €2.7 billion, €246.1 million and €79.9 million respectively since March 2020. At the end of July 2021, deposits of these sectors amounted to €19.4 billion, €9.3 billion, €2.9 billion and €892.6 million respectively;
overnight deposits held by Lithuanian households with credit institutions increased by €253.6 million, while those of non-financial corporations contracted by €27.7 million over the month, to €15.5 billion and €9.1 billion respectively;
interest rates on new business loans granted to households by credit institutions went up by 0.09 percentage point over the month, to reach 3.42%. Interest rates on loans for consumption and other purposes rose by 0.08 and 0.93 percentage point respectively, while those on loans for house purchase declined by 0.03 percentage point. In July 2021, interest rates on these loans comprised 8.88%, 5.71% and 2.18% respectively.
