BNR Exchange Rates
10.02.2012- 1 EUR
4.3529 RON - 1 USD
3.2831 RON - 1 CHF 3.5986 RON
- 1 GBP 5.1981 RON
- 1 gr. aur181.2627 RON
Banks still pessimistic about lending demand recoveryUpdated: 22-08-2010 | Financial and Banking
Romanian banks are pessimistic about the recovery of lending demand by companies or population, after the second quarter of this year saw more restrictive crediting conditions, except for mortgage loans, according to a survey conducted by the National Bank of Romania (BNR).
"At an aggregate level, lending terms (for companies) were tighter in Q2/2010. The measures taken during this interval were however less restrictive than in Q1/2010. Against the background of deteriorating loan portfolios' quality, the banks (a net percentage of about 25 pc) increased the bonuses for riskier loans, so they can adjust more easily to potential losses," finds the BNR survey, quoted by Mediafax. Lending demand for the acquisition of lands and dwellings was still negative in the second quarter, contrary to optimistic forecasts previously unveiled by banks.
This was a result of consumers losing confidence in the general evolution of the economy and in future incomes. "On short term, banks do not foresee a recovery of real estate crediting. Housing prices continued to adjust in Q2/2010, two years after the beginning of this trend. The net percentage of banks that reported this evolution is 60 pc, higher than in Q1/2010. The corrections of the real estate market are expected to continue in Q3 as well," reads the survey. An approximate 17 pc of banks lowered their crediting costs other than interests, after keeping them at pre-crisis levels for six quarters in a row. In a different move, consumer crediting demand in Q2 held steady, at levels similar to Q1, contrary to the optimism expressed by half of the banks.
Latest News:
- Combined revenues of the top 20 Deloitte Football Money League clubs exceed €4.4bn to defy European economic woes
- Five banks join the partnership between RBS Romania and Vodafone for the payment of mobile telephony bills by inter-bank direct debit
- The Western Union Company reported financial results for the 2011
- Vodafone Romania reports financial results for the third quarter of the financial year 2011 - 2012
- Business needs to do more to manage deal risks in growth markets, urges PwC report
- COSMOTE Romania advises parents to keep their children safe on the internet, for the 4th year in a row
- President Basescu names Mihai Razvan Ungureanu to head new Gov't of Romania
- BNR decide do lower the monetary policy rate to 5.50 percent
- Romania: Record Transaction for the Office Market Outside Bucharest City Business Centre (CBC) in Timisoara Sold to NEPI
- METLIFE TO ACQUIRE THE CZECH, HUNGARIAN AND ROMANIAN OPERATIONS OF AVIVA plc
- BNR: Silver coin dedicated to 10 years anniversary of introducing euro coins and bills
- Deloitte: Top Trends in Telecommunications in 2012
- PwC: Big spending predicted in 2012 for gold mining companies
- The value of tax payments by card almost doubled in the first 11 months of 2011, to RON 69.4 million
- Deloitte: Top media trends in 2012. Media consumption is equally split between tradition and latest technologies
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
