Credit portfolio of Belarusian banks up 31% in H1

MINSK, 26 July (BelTA) – In January-June 2011 the credit portfolio of Belarusian banks went up 31% to reach Br116316.3 billion, BelTA learned from the National Bank. According to the National Bank, In H1 2011 the volume of long-term loans issued to Belarusian banks went up 32.6% to reach Br88322.6 billion in July. The volume of short-term loans went up 26.15% to Br27993.7 billion. As of 1 July 2011 long-term loans accounted for 75.9% of the loan debt (up 1.8% over the same period last year). According to the National Bank, in January-June 2011 the real sector of economy used more loans in Belarusian rubles. Particularly, loans in Belarusian rubles accounted for 70% of the credit portfolio as of 1 July 2011. In H1 loans in Belarusian rubles increased some 17% to Br81424.9 billion. Loans in foreign currency went up 81.2% to Br34891.5 billion. The majority of loans were granted to private companies. In line with the main trends of Belarus’ monetary policy for 2011, bank loans are expected to rise by 24-25% to make up 58% of GDP.

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