The Czech Banking Association (CBA) expects bank lending growth to accelerate to 4.2% in 2014 from 3.5% estimated for 2013, the association said in a new forecast on January 14 revising up its outlook from a 4.1% growth expected in October. The growth will further speed up to 5.4% in 2015, also up from 4.7% projected in October. Loans to households are to expand at an annual rate of 4.7% this year and at 5.5% in 2015. CBA's October forecast saw household credits up 4.6% both in 2014 and 2015. Credits to companies should grow by 4.3% in 2014 and by 5.4% the next year, versus October's estimates of 4.4% and 6%, respectively. The annual growth in Czech deposits is seen easing to 2.7% in 2014 from 3.3% in 2013 before strengthening to 4.2% in 2015. In October, CBA expected bank deposits this year to rise by 2.9% and by 3.3% in 2015. According to the latest available central bank data, lending growth speeded up to more than a three-year high of 7% in November 2013 with the value of loans reaching CZK 2.52tn ( EUR 92bn ). The value of outstanding deposits in Czech banks stood at CZK 3.3tn at the end of November, and their annual growth rate accelerated to 7.3% from 4.6% the month before.
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