sk sk

Macroprudential Commentary - September 2025

The financial cycle continues to recover:

  • In the second quarter of 2025, credit market developments were the main driver of expansion, with growth in both mortgage lending and consumer credit. Both the average size and number of new mortgages rose.
  • Lending to non-financial corporations (NFCs) also picked up, mainly in the form of working capital loans, while financing for fixed investment remained flat.
  • Growth in housing prices moderated in the second quarter, while housing affordability has remained unchanged this year.
  • Banks’ aggregate net profit has increased, thanks mainly to lower deposit costs. The increase in banks’ solvency was this time due mainly to a regulatory change. Overall, banks remain well capitalised and maintain sufficient liquidity.

No change in the countercyclical buffer (CCyB) rate. Národná banka Slovenska also does not foresee a need to adjust the CCyB rate in the next quarter.