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Romania's crediting will advance by more than 10% this year, Unicredit deems

The annual crediting growth rate will stay this year above 10 percent, despite the financing shrink, estimate Unicredit analysts in a report presented today at a conference in Vienna.

The economists point at a 15.7 percent rise in the population's crediting versus the 30.5 percent level estimated for last year. For 2010, Unicredit expects the growth rate to maintain and the crediting to advance by 16.1 percent versus this year. The population crediting had leaped forward in 2007 by 87.1 percent.

The consumption boom, nurtured by the fast rate at which crediting moved by now, is drawing to a close, as crediting conditions grow harsher and the risks are continuously reevaluated. The financial crisis will reflect in the financing shrink, but we still expect a two-digit growth, reads the Unicredit report.

Unicredit sees mortgages advancing by only 14.5 percent from last year's 29.9 percent, with a chance of them popping next year to 15.7 percent. At the same time, the consumption credit could rise this year by 16.3 percent, far away from 2008's 31.5 percent but close to 2010's 16.5 percent.

The vice governor of the central bank, Cristian Popa, declared earlier today that the annual lending rate could stand below the 15 percent estimated by the bank in real terms.

The advance of the non-governmental credit shrank from 63.4 percent in June 2008 to 50.5 percent in September, 44.8 percent in October and 38.3 percent in November, in nominal terms. In real terms, taking inflation into account, the crediting moderated from 50.5 percent in June to 29.5 percent in November, according to the BNR statistics.

 

Sursa: http://www.newsin.ro

Tags: percent crediting unicredit advance bnr