The financial statistics, remittances and trade in goods for August, 2023, for other financial institutions (non-banks) are published
The CBK, according to the publication calendar, has published the statistics for other financial institutions for August, 2023; https://bqk-kos.org/statistikat/serite-kohore/). Simultaneously, the remittances data for the month of July and the preliminary data for August 2023 are published.
Other financial intermediaries
The assets of other financial intermediaries at the end of August 2023 have increased by 20.5 million EUR, compared to the previous month, reaching the value of 475.9 million EUR. The increase in assets in the form of deposits in commercial banks for 9.1 million EUR has contributed to this increase. The structure of the assets of the microfinance sector is dominated by loans, which make up 70.2% of the total assets.
Gross loans of other financial intermediaries reached a value of around 334.2 million EUR in August 2023, an increase of 5.6 million EUR compared to the previous period.
Loans to households in August 2023 represent 62.5% of the total loans of the microfinance sector.
The assets of insurance companies in August 2023 reached the amount of 295.9 million EUR, representing the decrease of 0.4 million EUR compared to the previous month.
The structure of assets in the insurance sector consists of the balance sheet with commercial banks accounting for 46.0% securities, and other assets accounting for 27.6% of assets, while reinsurance accounts for 15.3% of total assets.
The assets of Pension Funds at the end of August 2023 have reached the amount of 2.61 billion EUR, which represents an increase of 2.78 million EUR compared to the previous month.
The asset structure of the pension sector is dominated by equity securities that make up 75.9% of total assets. Their amount in August 2023 has reached 1.98 billion EUR, marking a decrease of 10.3 million EUR compared to the previous month.
Remittances, until the end of July 2023, reached the amount of about 754 million EUR, representing an increase of 12% compared to the same period of 2022, where in the month of July alone they were 118.8 million EUR. Remittances mainly come from EU countries, at about 70% of total remittances, with Germany leading with 38.1%, followed by Switzerland with 17.6% and the USA with about 7.5%.
According to preliminary estimates, remittances for August were approximately 142.2 million EUR. The largest inflows during this month were through NBFI 42%, other channels 40%, while through banks 19%. For detailed information, please follow the link: 31 Remittances-by channel.xls (live.com).