Bank lending growth slows to 11.8% in March

Bank lending growth decelerated to 11.8% year-on-year in March 2025, marking the slowest expansion in four months, down from 12.2% in February.

This slowdown was attributed to decreased loan growth for both production activities and consumers.

Outstanding loans to residents increased by 12.3% in March, a slight easing from February's 12.6% growth, while loans to non-residents contracted by 5.6%.

Loans for production activities expanded by 10.9%, slower than the previous month's 11.2% growth.

Key industries contributing to the slower production loan growth include real estate activities, wholesale and retail trade, and information and communication.

Despite the overall slowdown, consumer loans to residents expanded by 23.6% in March, driven by credit card, motor vehicle, and salary-based consumption loans.