On-year growth in the stock of bank loans has been steady, remaining at 13 % for about a year. However, the stock of foreign currency-denominated bank loans has contracted during this year. In the third quarter, the stock of entrust and trust loans issued in the shadow banking sector grew by 14 % y-o-y. Growth in shadow bank lending has slowed significantly over the past two years. A year ago, lending of the shadow banking sector grew by nearly 30 % y-o-y.
Ratio of domestic credit stock to GDP
Sources: Macrobond, BOFIT