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Romania Jan Lending Down For 4th Consecutive Mo

Loans in local currency decreased in January by 1.1% in real terms, for the fourth month in a row, while loans in foreign currency, expressed in euros, dropped by 0.1%, compared with 1% last December, according to the data of the National Bank of Romania.
Romania Jan Lending Down For 4th Consecutive Mo
24 feb. 2009, 17:28, English

In real terms, private lending in lei started to fall after the breakout of the financial crisis in Central and Eastern Europe, namely in the last quarter of 2008, by 2.4% in December, by 0.7% in November and by 0.4% in October.
 
Foreign currency lending fell in November by 0.9% on the month, expressed in euros, but hiked 2.3% in local currency. In October 2008, foreign currency loans rose 0.4% in euros and decreased by 1.5% in lei.
 
In the last part of 2008, lending was almost blocked due to the financial turmoil, as well as due to the implementation of new, more restrictive household lending rules by the central bank.
 
In nominal terms, January was the first month after October when loans rose, expressed in lei and in foreign currency as well.
 
Private lending in foreign currency, expressed in lei, rose 7.2% on the month in January, compared with a 4.4% growth in December, while loans in lei rose 0.1%, after a 2.1% drop in December.