Evolution of credit institutions’ balance sheet

The Banque centrale du Luxembourg informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 901 641 million euros on 31 March 2020, compared to 842 411 million euros on 29 February 2020, an increase of 7.0%. Between the months of March 2019 and March 2020, the aggregated balance sheet increased by 11.9%.

Net interbank lending, that is to say the difference between interbank loans and deposits, increased by 20 140 million (12.7%) to reach 178 206 million euros at the end of March 2020.

Loans to resident non-bank customers increased by 1 916 million euros, or 1.9%, between February 2020 and March 2020. Between March 2019 and March 2020, these loans increased by 8 629 million euros (9.2%).

The progression of loans to resident non-bank customers was largely attributable to its three main components. Indeed, between March 2019 and March 2020, loans to non-financial corporations (NFCs) rose by 2 650 million euros (10.0%), loans for house purchases by 2 658 million euros (8.6%) and loans to other financial intermediaries (OFIs) by 3 407 million euros (11.6%).

With regard to the liability side, deposits from the resident non-bank sector increased by 19 065 million euros or 7.3% between February 2020 and March 2020. On an annual basis, these deposits increased by 32 547 million euros, or 13.2%.

Between March 2019 and March 2020, OFI deposits (which had a share of 70.8% as at 31 March 2020 and comprised deposits made by monetary and non-monetary investment funds) increased by 28 871 million euros (17.1%) and household deposits by 2 057 million euros (5.2%). Resident NFC deposits decreased by 898 million euros (5.0%).

The tables pertaining to the balance sheet of credit institutions can be consulted on the BCL’s website on the following page:

http://www.bcl.lu/en/statistics/series_statistiques_luxembourg/11_credit_institutions/index.html

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