The top two banks on the market, BCR and BRD, will be the main beneficiaries of the fourth edition of the "First Home" scheme, while smaller players seem to be out of the game, partly because of the tougher criteria the NBR will be imposing in terms of risk taking.

In the new edition, the state offers guarantees only for half of the granted loan. Thus, banks will have to apply the standard lending norms, approved by the NBR, for the other half. As the government asks the condition on the 5% down payment be retained, it is only the banks that got the NBR's approval to grant loans with a 10% down payment that will be able to still participate in the "First Home" scheme.

The chairman of the Romanian Banking Association, Radu Gheţea, specifies that commercial banks that had a minimum down payment of over 10% approved through norms and want to take part in the new First Home scheme can ask the central bank for internal norm modification. The move, added Gheţea, would be necessary not only for new loans, but also for loans already granted as part of the scheme, for which the state guarantee will be halved.

BCR and BRD, which have already voiced their interest in participating in the fourth edition, granted loans worth almost 900m euros together within the scheme.

The top two banks on the market, BCR and BRD, will be the main beneficiaries of the fourth edition of the "First Home" scheme, while smaller players seem to be out of the game, partly because of the tougher criteria the NBR will be imposing in terms of risk taking.

In the new edition, the state offers guarantees only for half of the granted loan. Thus, banks will have to apply the standard lending norms, approved by the NBR, for the other half. As the government asks the condition on the 5% down payment be retained, it is only the banks that got the NBR's approval to grant loans