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A report on the balance sheet of Luxembourg credit institutions published Wednesday by the Banque centrale du Luxembourg (BCL) has shown that statements increased 1.1% from the previous month to €771,066 million.

Althought this figure, taken from 29 February 2016, represented an increase compared to the €763,046 million of 31 January 2016, the balance sum of credit institutions between February 2015 and the same month of this year fell by the greater margin of 1.3%.

The report attributed this latter change to interbank claims, which fell by 3.4% between February 2014 and February 2015, as well as the hindered evolution of liabilities fue to a 2.8% decrease in interbank liabilities in the same period.

Interbank receivables and liabilities have respective shares of 49.2% and 37.6%, and therefore a significant impact, on assets and liabilities. The interbank balance, as defined by the difference between interbank assets and liabilities, was found to have remained positive and stood at €88,931 million at the end of February 2016.

Credits to resident non-bank clients increased by €495 million, a 0.7% rise between January and February 2016. YoY, these credits experienced a €2,922 million increase, or 4.1%. This evolution was determined to have been driven by loans to non-financial corporations (NFCs), loans to other financial intermediaries (AIF) and property loans to households. The respective shares of these credits were registered at 25.7%, 30.6% and 32.8% on 29 February 2016.

Whilst loans to NFCs and to households continued on an upward trajectory between February 2015 and the same month of this year, at +€4,337 million and +€1,600 million, respectively, AIF loans greatly mitigated credit growth to non-bank resident clients, experiencing a +€3,677 million or 14.0% drop during the same period. However, the decrease in AIF loans and the concomitant rise in NFC loans was in part the result of a reclassificant of several large credits from the former sector to the latter.

In terms of liabilities, deposits from the non-banking resident sector increased by €2,819 million, or 1.3%, between 31 January and 29 February 2016. In twelve months, these deposits grew €6,931 million, or 3.4%.

During the aforementioned period, growth in deposits of non-bank resident clients was driven by AIF deposits whose share stood at 70.0% on 29 February 2016. The annual growth of non-bank resident client deposits was largely due to higher deposits from the AIF sector which includes, among other, monetary and non-monetary investment funds. Over the course of the last twelve months, AIF resident deposits increased by €8,124 million, whilst in other sectors such as household and SNF deposits, figures show a fall of €1,808 million and €5,219 million, respectively.

The number of credit institutions registered on the official list stood at 144 units on 29 February 2016.

 

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