Lithuanian bank: Resident deposits grew by 2.25 billion euros in April

Deposits held by residents in Lithuanian credit institutions saw a significant increase in April, growing by nearly 2.25 billion euros. This marks a 4.6% rise compared to the previous month and a substantial 17.4% increase over the past year. The data highlights a growing trend of savings among the Lithuanian population.

In April, deposits from companies (excluding financial institutions) also expanded, rising by 2.1% monthly to 11.7 billion euros. Government sector deposits grew by 608.8 million euros, reaching 7.3 billion euros, while financial sector deposits decreased. Overall, resident deposits at the end of April stood at 30.6 billion euros.

Loan activity also showed growth. Credit institution loans to Lithuanian residents increased by 0.5% in April, totaling 160.6 million euros. Loans to individuals and companies rose by 0.4% and 1.1% respectively. Housing loans saw a 0.6% increase, reaching 15.7 billion euros, and other loans grew by 0.2%. Consumer loans, however, decreased by 1.4% to 1.4 billion euros.

Interest rates on new loans for individuals decreased slightly, with housing loan rates rising marginally and consumer loan rates falling. New loan interest rates for companies increased, with larger loans seeing a more significant rise.