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Bk Lending May Revive In 3 To 9-Mos – CFA Romania

The lending activity in the Romanian banking system may revive in a three- to nine-month period, but the local companies will not register similar growth rates as prior to the crisis, CFA Romania president Dragos Cabat said Tuesday.
Bogdan NeaguManuela Panescu
31 mart. 2009, 16:37, Economic

„We hoped the normal lending system revives somewhere in March, but this did not happen and I now give a new deadline of three to nine months,” Cabat said during the seminar „Mediafax talks about Business Solutions to Crisis”.

He said the banks should eventually resume the lending activity, as they are pressured by costs.

„Unless managing to give loans with 25% interest rates at Romanian lei, they should give with 20%. If they do not manage with 20%, they give with 15%, and so on, but we should give them a three to nine month delay,” Cabat said.

Romania would not overcome the financial crisis over the next six to nine months, and this could happen only when foreign partners such as Germany, Italy or Austria will recover, according to Cabat.

After the crisis is gone, the economy will not register the growth from previous years, he also said.

CFA Romania is the association of professionals in investments sector with the award of Chartered Financial Analyst (CFA), given by US’ CFA Institute. It has 135 member organizations.