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BNR vice-governor: Banks see fierce competition ahead

Banks will enter fierce competition with each other and with mutual or investment funds, vice-governor of the National Bank of Romania (BNR) Eugen Dijmarescu told a roundtable held on April 21, titled 'Banks - the battle for resources.'

Commenting on the US subprime crunch that, of late, has also been affecting Spain, Dijmarescu said that this situation is less the effect of the attitude of the American population that massively raised credits, but rather the result of the losses multiplying following the banks' using leverage to buy the loans. 'One thing is evident: we are faced with the effects of a financial crisis and we are in the eye of the cyclone, which means that we do not see the image very clearly, if the end is in one or two years or more, and we must get used to risk-dominated markets,' Dijmarescu added. In this context, the central bank official underscored that the situation of the local banking market is not comparable with that of the market that triggered the financial crisis, but underscored that 'commercial banks need to adopt an aggressive attitude towards retail and the establishment of deposits.' In the opinion of the BNR vice-governor, there is a heightened concern of the banking sector for prudential measures and collaterals, which raises the question whether the banks are heading for lesser availability for lending or if they will broker loans, making profit and entering the capital market. Sursa: http://www.rompress.ro

Tags: banks governor bnr

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