BNR Exchange Rates
16.05.2012- 1 EUR
4.4463 RON - 1 USD 3.4987 RON
- 1 CHF 3.7020 RON
- 1 GBP 5.5669 RON
- 1 gr. aur
172.7896 RON
Real estate market standstill had no impact on banksUpdated: 09-09-2008 |
The recent decline in transactions on the residential market did not impact on local lenders' mortgages sales, bankers say. However, insecurity related to the real estate market, caused by the international financial turmoil, and more expensive financing led to a 2 percent decline in loans granted for residential acquisitions in July.
Meanwhile, the price of old apartments prices decreased by more than 10 percent in the first half of 2008.
"The current situation on the Real estate market did not have a negative impact on [Banca Comerciala Romana, the country's largest lender] BCR sales on the real estate loans segment, due to our promotion campaign between May and August," said the head of BCR'a retail services division, Sorin Mititelu.
Other bankers also denied a negative impact on their business. "In August, the bank's loan portfolio increased by €110-120 million. We plan to grow as planned but probably the National Bank regulations will impact on lending," said the President of Volksbank, the fourth-largest lender locally, Gerald Schreiner.
Romania's National Bank (BNR) is to enforce new regulations as of October, aimed to curb lending and to lower risks for both banks and their clients.
Business Standard
Latest News:
- Call for Entries for Deloitte Central Europe Technology Fast 50 2012
- Millennium Bank offers term deposits with monthly interest payment
- Deloitte European Salary Survey: Sweden, Belgium and the Netherlands, at the top of the pyramid of the tax systems
- Citibank Romania Announces New Partnerships Extending its ATM and Repayment Network by 500 Locations Countrywide
- NBR delivers a silver coin dedicated to Sergiu Celibidache – 100 years since his birth.
- MILLENNIUM BCP NAMED BEST BANK IN PORTUGAL FOR SECOND STRAIGHT YEAR BY EMEA FINANCE
- PwC Romania awarded by the Babes-Bolyai University
- COSMOTE Romania launches a new advertising campaign promoting its Business Portfolio
- On April, National Bank of Romania's foreign exchange reserves stood at EUR 34,336 million
- BCR achieves solid quarterly operating result despite economic slowdown
- The National Bank keeps unchanged the monetary rate
- Tomas Spurny begins mandate as BCR CEO
- PIC reorganization plan approved by creditors and confirmed by the syndic judge
- Upgrading water supply network in Romania's Mures county €15.9 million loan to S.C. Compania Aquaserv S.A.
- COSMOTE Romania introduces the online payment service
Most Popular News
- Three billion euros to be invested in energy private-public partnerships
- Romanian state plans to keep 8 pct of Petrom, at least
- IMF mission extends stay in Romania till May 9
- IMF, FinMin Vladescu discuss Government revenues collection
- Videanu admits that he is in conflict of interests in connection to Marmosim
- Greece gets 110 billion euros, biggest bailout in history
- BNR governor Mugur Isarescu: Situation is quite complicated
- Romanian-German meeting on fresh cooperation opportunities
- Gov't to earmark 6.4pc of GDP for investment
- FinMin Vladescu: Cutting 25pc off public wages pool will not generate needed savings
