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Past due repayments on small credits declining as of March

For the first time, past due repayments on small credits (less than the equivalent of RON 20,000) started to decline in March 2009, whereas overdue repayments for large credits (higher than RON 20,000) are rising at a faster pace, head of the national Bank's Surveillance Department Nicolae Cinteza on Thursday told a symposium hosted by the National Bank of Romania.

Although in December 2008 loans higher than RON 20,000 accounted for 75.7pc of the total loans, and for 78pc respectively in March 2009, past due repayments for this loan category stood at only 31.7pc in December 2008.

On the other hand, credits smaller than RON 20,000 were accounting for 24.3pc of the total in December 2008 and 22pc in March 2009 respectively, but the share of past due repayments stood at 68pc in December 2008 and 69pc in March 2009.

Of the total retail credits, 58.7pc are denominated in foreign currency and 41.3pc in local lei, whereas past due payments on credits in foreign currency represent 51.4pc of the total, and those in local lei - 48.6pc.

According to data presented by the BNR representative, in December 2008 credits higher than the equivalent of RON 20,000 totaled RON 75.109 bln, of which RON 19.396 bln loans in national currency and RON 55.713 bln the credits denominated in foreign currency. Past due repayments totaled RON 335 million, out of which RON 163 million for credits in the local currency and RON 172 million for foreign currency-denominated loans.

On the same date, credits below RON 20,000 totaled RON 24.101 bln, out of which RON 21.548 bln in national currency and RON 2.553 bln - those in foreign currency.

According to Cinteza, 66.8pc of the total credits are secured; 88.2pc of the loans higher than RON 20,000 are secured and so are 94.5pc of the foreign currency denominated loans higher than RON 20,000; secured loans account for 99pc of real estate loans.

 

Sursa: http://www.rompress.ro

Tags: credits currency loans repayments march foreign december total higher bnr