Past due loans topped Euro 880 million in March

30-day loan delinquencies reached Euro 880 million in March (3.6 billion lei) 2.6-fold higher than year-ago level, and 27% higher than end-2009.The value of loan payments 30 days or more overdue rose to 3.6 billion lei (Euro 880 million), markedly higher than 1.4 billion lei in the same period of last year, data from the National Bank of Romania show.

30-day loan delinquencies increased by 4.38% in the last month only, adding 152 million lei to February value.The highest delinquencies are loans in lei, of 2.11 billion lei, while delinquencies for loans in euro totaled 1.17 billion lei. Around 75% of total delinquencies account for non-performing loans (payments of interest and principal are past due by 90 days or more).However, the number of borrowers in default continued to drop in March to 677,485 from 686,110 in February.