Credit demand stagnating, says head of Credit Bureau
Credit sales to individuals have not seen a noticeable decline
after the tough adjustment measures implemented by the Government
in the summer, but this only means they are stagnating at the low
level reached back in 2009, says {erban Epure, director general of
the Credit Bureau.
Several banks resumed promotional offers for retail loans in autumn
- especially for mortgage-backed ones, after withdrawing them in
the summer, but with no palpable effect. From July until October
the Credit Bureau issued around 340,000 credit reports at the
request of banks seeking information on potential clients. In
spring the number of reports had been only slightly higher, around
370,000 reports per month. Considering that banks request
information on potential clients every time they analyse a credit
application, the indicator gives a good approximation of loan
demand from the individuals.
This year's monthly level of lending does not differ very much from
amounts recorded in 2009. In September demand was down 7%, after a
15% decline in August. But credit sales are just a shadow of what
they used to be in the boom year 2008, when the Bureau released
between 600,000 and 800,000 credit reports per month.