Lending accelerated relative to end‐2021 and was 12.1% higher in March than a year ago, while its composition by sector and purpose confirms that it remains an important source of production, investment and consumption financing. Lending growth is also propped by the preserved financial soundness of banks, as well as the quality of their assets.
This is attested by the share of NPLs in total loans which contracted further, to 3.4% in March, this being almost its lowest level on record, as well as the capital adequacy ratio of around 20%, significantly beyond the regulatory minimum.