Financial group ING says that 2010 will bring the much-awaited rebound of the Romanian economy after a drastic fall for over one year that has shaken many business models. ING wants to take advantage of the improvement to boost the volume of loans granted by 10-15%, after having stagnated in this regard last year.
"The beginning of the year looks quite good and we are in the black. I believe we made sufficient provisions last year, we hope we won't have any more surprises now," said Misu Negritoiu, general manager of the local operations of Dutch financial group ING.
He anticipates the economy will go up by 2% this year (while the official forecast stands at 1.3%), driven by the rebound of the industrial output and exports, so that demand for financing from companies will rebound, too. Last year, ING's loan portfolio fell by 3% to 7.2 billion RON (1.7 billion euros), because of the drop in corporate finance. "The first part of last year was horrific," Negritoiu said talking about loan sales.
Financial group ING says that 2010 will bring the much-awaited rebound of the Romanian economy after a drastic fall for over one year that has shaken many business models. ING wants to take advantage of the improvement to boost the volume of loans granted by 10-15%, after having stagnated in this regard last year.
"The beginning of the year looks quite good and we are in the black. I believe we made sufficient provisions last year, we hope we won't have any more surprises now," said Misu Negritoiu, general manager of the local operations of Dutch financial group ING.
He anticipates the economy will go up by 2% this year (while the official forecast stands at 1.3%), driven by the rebound of the industrial output and exports, so that demand for financing from companies will rebound, too. Last year, ING's loan portfolio fell by 3% to 7.2 bil
