Bank of Lithuania releases December 2024 MFI statistics showing EUR 898 million rise in resident deposits and household loan rates at 5.91%

The Bank of Lithuania published monetary financial institution (MFI) balance sheet and interest rate statistics for December 2024, showing rising resident deposits and continued growth in lending to Lithuanian non-financial corporations and households. The release also points to declining interest rates on new term deposits and a divergence in lending rates, with corporate borrowing costs falling while overall household loan rates increased. Transaction-adjusted deposits of Lithuanian residents with credit institutions increased by EUR 898.4 million (2.1%) over the month, with household deposits up EUR 1.3 billion (5.1%) to EUR 25.7 billion and non-financial corporation deposits up EUR 91.4 million (0.8%) to EUR 10.9 billion. Loans granted by credit institutions to Lithuanian residents rose by EUR 340.2 million (1.1%), including increases of EUR 260.4 million (2.2%) to non-financial corporations (EUR 12.2 billion outstanding) and EUR 107.7 million (0.7%) to households (EUR 15.9 billion). On new business, the weighted interest rate on household loans rose 0.16 percentage points to 5.91% as mortgage rates fell to 4.36% but consumption and other loan rates rose to 9.26% and 8.38%; rates on new term deposits fell to 2.70% for households and 2.63% for non-financial corporations. New business loan rates for non-financial corporations declined to 5.27%, with rates at 5.34% for loans up to EUR 1 million and 5.26% for loans over EUR 1 million.