Romanian Banks See Foreclosure As Loss, Seek Dialogue

Ghetea thus denied the market opinion by which „banks sell factories, plants, houses and limos.”

„Nothing or very little is sold because there is no market demand. Foreclosure is the final step after all dialogue has failed,” Ghetea said in reply to claims that banks are trigger-happy when it comes to foreclosure.

Ghetea used the example of an asset sold in Timis county for 830,000 lei (EUR1=RON4.2613), a situation where the money obtained failed to cover all payments.

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„Thus the client was left in debt and the asset was lost. This is not what banks want,” Ghetea told the Mediafax Talks About Banking conference.