Romanian Bankers Expect New Loan Restructuring Deals

„We might need to restructure 30% of the lending portfolio, namely the share represented by clients in the public sector. This entails costs and revenues will remain the same,” said Piraeus Bank Romania general manager Catalin Parvu.

He added the local retail banking segment will stagnate or slightly decrease due to reduced revenues, low consumer confidence and uncertain property prices.

„We are expecting a second wave of restructuring because of the austerity measures. The banking system is fully prepared to face it,” said Alpha Bank Romania president Sergiu Oprescu.

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According to central bank data, one fifth of consumer loans were granted to public sector employees, cumulating some 20 billion lei (EUR1=RON4.2254).