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BRD estimates business growth to 10-20 pc next year

The Romanian Bank for Development (BRD), the second largest in the system, estimates a business growth of 10-15 percent next year compared to 50-60 percent previously, said Patrick Gelin, the bank's chairman and CEO.

The BRD official maintains that profitability will be under pressure, given the slowdown of the entire economy.

The majority of bankers speak about a dramatic slowdown on the crediting side, under conditions in which financing received from foreign shareholders will be most likely reduced in 2009. Andrei Radu, MKB Romextera President, a bank indirectly held by German Bayern LB group, was recently quoted by Ziarul financiar as saying that it was going to see slimmer financing lines in 2009 compared to this year. He considers that the majority of local players will be probably affected by the reduced financing, under conditions in which their shareholders are confronted with a 'liquidity drought at international level'.

Steven van Groningen, Raiffeisen Bank President, said in his turn that the banks will grant significant loans just to the extent they will be able to mobilize local resources.

As for their expansion, the banks are expectant at the moment.

Amid the top players only the Romanian Commercial Bank (BCR), the largest bank in the system, controlled by Austrians from Erste, has a significant plan for the opening of new units - another 100 in 2009. BCR already has 600 units compared to more than 900 of the BRD.

The other players, even those with multi-annual plans targeting their expansion into territory are currently on a standstill or already decided to cut the number of units previously set to be opened.

 

Sursa: http://www.rompress.ro

Tags: brd bcr

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