Bank provisions in Romania inch 6.5% m/m in August, hike 69.4% since the beginning of the year

Banks' provisions stood at 12.06 billion lei at the end of July, 6.75 percent up from the previous month. They amounted to 7.59 billion lei at the end of 2008.

Provisions rose significantly in the past year, as arrears from credits almost tripled, posting a 192 percent boost at the end of August, to 2.21 billion lei.

People's back payments older than 30 days grew 11 percent in August month-on-month.