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2009 to be a year of savings, appreciate banking analysts

Romanians are to borrow less money from the banks in 2009, going to save more, stated on Tuesday, November 18 Lucian Anghel, BCR Chief economist, on the occasion of a forum dedicated to the banking system.

'I think that 2009 will be a year dedicated to savings and less to loans, if we take into account that in the first nine months of the year loans advanced by 34 percent and deposits by 13 percent. I believe that in 2009 loans will see a 15 percent growth and deposits the same growth pace, also due to the fact that they will strike a balance in the context in which the banks will need deposits in order to give loans', said Lucian Anghel.

He underscored that the report between loans and deposits is of 130 percent and loans in RON attained 20 billion RON in the first nine months and deposits 8-9 billion RON, whereas foreign currency loans reached the equivalent of 30 billion RON and deposits 9 billion.

'I think that RON crediting will continue because the reduction of minimum reserves, for instance, will bring on the market 7-8 billion RON through multiplication, which will go to loans in RON. So that one can see that there is no liquidity crisis on the market. Some problems will appear as for foreign currency loans because external financial sources are more difficult to be found', said Ionut Dumitru, Chief economist of Raiffeisen Bank.

Lucian Voinea, executive manager of the Applied Economy Group, underlined that Romania is facing the first consumption overheating crisis, under conditions in which money has become more expensive.

'I think that our situation is due to wrong fundamentals that drove the economic growth. As regards the banks, we can see that the foreign currency risk is for the client, the interest rate risk the same and the banks are facing the risk management, it is true not performing too well', said Voinea.

 

Sursa: http://www.rompress.ro

Tags: loans billion deposits bcr

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