In each month of the past year bankers sold new loans equivalent to 1-1.5 billion euros, but the amounts barely account for two thirds of the annual volume of financing granted in 2008, the boom year for lending. Under the circumstances, new amounts granted merely manage to cover client repayments, while the overall volume fails to return to growth.
In April, banks sold 2.8 billion RON (equivalent to 686 million euros) in loans, the same amount as in April 2009, but only half as much as in April 2008, according to data from the NBR (National Bank of Romania).
Things are looking somewhat better for loans in foreign currency, where sales amounted to the equivalent of 2.98 billion RON (723 million euros), up 18% against April of last year, and accounting for 70% of sales recorded in April 2008.
In each month of the past year bankers sold new loans equivalent to 1-1.5 billion euros, but the amounts barely account for two thirds of the annual volume of financing granted in 2008, the boom year for lending. Under the circumstances, new amounts granted merely manage to cover client repayments, while the overall volume fails to return to growth.
In April, banks sold 2.8 billion RON (equivalent to 686 million euros) in loans, the same amount as in April 2009, but only half as much as in April 2008, according to data from the NBR (National Bank of Romania).
Things are looking somewhat better for loans in foreign currency, where sales amounted to the equivalent of 2.98 billion RON (723 million euros), up 18% against April of last year, and accounting for 70% of sales recorded in April 2008.
