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Bankers : the country risk and the cost of compulsory minimum reserves takes the margins of loan interest over the level of other European countries

ING offers mortgage loans in Spain at a margin of 0.6%. Alpha Bank operates in Greece with a higher margin by several percentage points for the same product as Romania. In general, the banks practice in Romania a high level of the margins for interest for mortgage loans against other countries in the EU.

The bankers consider it is due to the high risk of country, although Greece or Portugal have a higher country risk than Romania.

Rober Rekkers, executive manager at Banca Transilvania, includes among the main reasons for the interest margins which are higher than for the Romanian banks compulsory minimum reserives for euro worth 25% and the high country risk.

At the same time, Nicolae Chidesciuc, the head economist with ING Bank Romania considers the high level of interest margins are due to the high country risk. He showed that the country risk cannot be ignored, taking into consideration that any loan in euro has Euribor plus the country risk and the bank margin. « In the case of Romania, we speak about a significant country risk especially if we make the comparison with Spain. In the case of Greece we think the risk is very high. The country risk cannot be ignored. If things get better, and we think that things will get better in 2-3 years, the risk will drop and the margins as well' Nicolae Chidesciuc says.

Robert Rekkers shows that Greece ' is not that bad' as they received ten billion euro from the IMF and the European Commission. If we look at the loan offers of some local banks, we see that there are interest margns which go up to 8%. At the same time, the banks in Greece have margins under 4% in Portugal almost 2.5% while in Spain the margins for mortgage loans are under 1%.

According to a report of the monitoring company for the financial market CMA Romania is the tenth in the world ranking as regards the default risk while Greece is second. Thus, the swap default loan for the state bonds with maturity in five years is 3.509 points, while the CDS for Greece is 7.753 points, Portugal is 4.088 points. In the case of Spain, another country with problems, the cost for insurance at default is 2.307 points and the banks offer mortgage loans with a margin of 0.59%.

Sursa: http://www.actmedia.eu

Tags: country points romania greece margins interest level banks euro ing

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