Raiffeisenbank Austria (RBA) analysts note that household deleveraging has been going on for 11 straight months. Compared with April, household lending increased by 0.1% or HRK 145.5 million to HRK 118.1 billion at the end of May.
Household deleveraging was on the back of the effects of the conversion of the Swiss franc-indexed loans into euro loans. Consequently, mortgages that account 44% of lending to households, decreased by HRK 52.4 billion at the end of May.
Personal loans, whose share in the household borrowing is 34%, came to 40.2 billion kuna, rising 0.6% on the months and by 2% on the year. This type of loans has been the only one to see a rise year-on-year.
((EUR 1 = HRK 7.5)