Only euro-denominated retail loans managed to rise this summer, when consumers, as well as bankers, became more reluctant to do business after the Romanian government took tough austerity measures. RON-denominated loans on the other hand, both consumer and mortgage loans, started to slide again, after a tentative rebound in spring.
In August, RON-denominated mortgage loans fell by 0.7% against the previous month, to 1.6 billion RON, while consumer loans followed a similar trend, with the volume of granted loans down to 28 billion RON, according to data from the NBR (National Bank of Romania). In June and July the volume of consumer loans granted had experienced much deeper declines, of 7% and 13% respectively, a lot steeper than on regular months.
Bankers also say customers are showing some appetite for mortgage loans amid a decline in prices of real estate, with the euro being a clear favourite.
As far as consumer loans are concerned, only big banks talk of a stronger appetite, and even come with promotional offers, while smaller players prefer to stay away from this segment that has proven very risky.
Only euro-denominated retail loans managed to rise this summer, when consumers, as well as bankers, became more reluctant to do business after the Romanian government took tough austerity measures. RON-denominated loans on the other hand, both consumer and mortgage loans, started to slide again, after a tentative rebound in spring.
In August, RON-denominated mortgage loans fell by 0.7% against the previous month, to 1.6 billion RON, while consumer loans followed a similar trend, with the volume of granted loans down to 28 billion RON, according to data from the NBR (National Bank of Romania). In June and July the volume of consumer loans granted had experienced much deeper declines, of 7% and 13% respectively, a lot steeper than on
