Last year, Slovak banks provided loans to households worth €20 billion, which is a 10% rise annually - the biggest increase seen in the Eurozone. According to statistics from Slovakia's central bank (NBS), the total of all loans of Slovak households as of the end of December stood at €19.2 billion.
Growth in housing loans was a major contributor to this trend, as the volume of fresh loans towards housing surged by 29% equating to €4.7 billion. The total for all housing loans as of the end of December stood at €14.9 billion, which constitutes an annual increase of 12 percent. As far as consumer loans in 2013 are concerned, the volume of newly-provided loans increased by 12 percent to €2.8 billion. “Among the strongest months in terms of housing loans were May and June, when banks provided €380 million a month on average. In terms of consumer, the strongest months were October and November when Slovaks took out an average of €160 million a month,” said Henrieta Gaherova, Prima Banka Director of Product Management Division. Many of the loans provided last year were used in part to refinance older loans taking advantage of improved interest rates.
