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Bank customers reach sustainability limit

The Romanian banks' portfolios have not turned worse as a result of the depreciation of the Romanian national currency leu yet, but the customers having foreign exchange loans have already reached their sustainability limit, chief economist with Raiffeisen Bank Ionut Dumitru told Rompres on Wednesday.

'Most individuals having contracted loans in hard currency with the Romanian banks are uncovered to the exchange rate risk for they have incomes in lei. This currency risk of the clients can turn into a loan-extension risk for the banks and it is a scenario not to be desired. For the moment, there is no turning to the worse as far as the banks' portfolio is concerned', Dumitru said. The Romanian banking system is quite vulnerable to the problems of the international financial markets and, first of all, to the problems of the European banking system, economic analyst Liviu Voinea, manager of the Group of Applied Economics (GEA) told Rompres on Wednesday. 'The foreign banks are now dealing with a quite difficult situation and we only have branches of such foreign banks in Romania, with only few exceptions. The Romanian banking system is highly vulnerable to the problems of the European banking system, which are quite serious in the context the European Central Bank has injected and is to continue to inject further liquidity,' the GEA manager also said. In his turn, economic analyst Ilie Serbanescu thinks that the banks in Romania will not be affected by such problems on the foreign market and the depreciation of the leu. They have very significant profits, as they 'cheated the people into taking euro loans,' so that the appreciation of the euro against the leu is actually making more money for them, Serbanescu said. Sursa: http://www.rompress.ro

Tags: romanian banks euro

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