Romanian Bks Assoc Head Pledges For Loans, Despite Higher Costs

The president of Romanian Banks Association, or ARB, Radu Ghetea, recommended clients to continue to take loans, despite higher costs and stricter requirements, adding that the banking system has the necessary financing sources.

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"Certain costs may be too high, the requirements may be more severe, but one should not follow the idea to not go to the bank because he won’t get a loan," Ghetea stated, after a meeting with the central bank governor Mugur Isarescu and the President of Romania, Traian Basescu.

On the other hand, Isarescu said Wednesday that, following talks with the country's most important banks, the financing lines renewal from parent-banks is seen at more than 90%, and might even touch 100% if the already announced capital increases are included.

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