Annual advance for lending to slow down to 15% in 2009, Romania's central bank vice governor deemsPublish date: 29-10-2008
Romania's Central Bank (BNR) estimates the annual growth rate for lending will temper to 15 percent next year, over this year's advance of more than 60 percent, said BNR vice governor, Cristian Popa.
The annual growth rate for lending reached the record high in January, of 67 percent, but slowed down gradually, to 50.5 percent in September.
Romania's total private external debt stands at 42.4 percent of the gross domestic product (GDP), of which 26.8 percent represents the long term private debt, said Popa, adding the whole debt is covered by the foreign currency reserves by 92.4 percent.
BNR estimates a current account deficit of 13.3 percent in the GDP at the end of the year, from 14 percent in 2007.
The central bank can use all the foreign currency reserves, as banks must keep them at BNR, said Popa, underlining the only way minimum reserves can drop is for liabilities to disappear, which is not possible.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei