Consumer finance companies and leasing firms have this year lost ten of thousands of clients as new funding has not kept up with the pace of repayments.
At the same time, leasing firms have recovered ever more goods from bad payers and closed the respective funding contracts.
In late August, NBFIs (non-bank financial institutions) had around 242,000 loans granted, down from over 290,000 at the end of last year, according to NBR data.
Leasing firms have published several thousand ads on their websites with the goods repossessed from clients, largely cars, with their resale becoming the companies' main business as new funding plunged by 70% last year and by 30% in the first half of 2010.
The situation is likely to deteriorate further in the second half, as retail funding was completely frozen in July and August, a period during which leasing firms adjusted their contracts to the Emergency Ordinance 50/2010.
Since the start of the year, the total volume of funding released by NBFIs registered with NBR's special registry has dropped by 330m euros, to 7.54bn euros (the equivalent of 32bn RON).
Consumer finance companies and leasing firms have this year lost ten of thousands of clients as new funding has not kept up with the pace of repayments.
At the same time, leasing firms have recovered ever more goods from bad payers and closed the respective funding contracts.
In late August, NBFIs (non-bank financial institutions) had around 242,000 loans granted, down from over 290,000 at the end of last year, according to NBR data.
Leasing firms have published several thousand ads on their websites with the goods repossessed from clients, largely cars, with their resale becoming the companies' main business as new funding plunged by 70% last year and by 30% in the first half of 2010.
The situation is likel
