Out of the 38 banks that operate in the domestic banking system, 27 are expected to report positive information concerning loans granted to customers by yearend, an increase from only 13 banks (46% of the market) at present, stated Serban Epure, general manager with the Credit Bureau. As a result, the Bureau is now expected to "cover" more than 80% of the banking market.
Currently, only 13 banks are contributing positive information to the Credit Bureau, which means each bank receives and provides data on customers who contracted loans and have successfully repaid the sums they owed in time.
The Credit Bureau has already signed participation contracts with another 14 banks besides the 13 that currently contribute to the system. Starting as early as next month, "two major top 10 banks" would begin to report the necessary information, explained Epure.
According to the NBR, any positive information reported is a plus for banks waiting for the approval of their own "relaxed" lending norms. As regards overdue payments, 25 banks currently participate in the system, with a cumulated market share of above 97%, together with 6 consumer finance companies, a leasing company and an insurance company.
"The number of individuals with overdue payments to banks has increased over the past year, which, in fact, is a normal development linked to increased lending," stated Epure.
As for the banking system, the head of the Credit Bureau estimates that the level of overall overdue payments is below 2% of the loans granted by banks.
Asked about the total volume of overdue payments registered by the Credit Bureau, which was provided as statistical information last year, Epure said the institution would no longer publish information, but did not provide any comment on the reasons behind the decision.
At present, the institution's database includes more than 3.3 million individuals, a number that increased considerably after people with positive information were included in the data.
The rise in the lending activity also shows in frequency of queries to the database and in the rate at which the institution releases credit reports.
The increase in the volume of loans reported by the NBR is in line with the number of credit reports released by the Bureau.
In July, the Credit Bureau registered a new record in terms of the number of reports released, both in daily amounts (over 36,000) and monthly (over 678,000).
During the past year, the number of clients with overdue loans to two or more institutions and reported to the Credit Bureau, has registered a significant increase, from around 36,000 on July 31 last year, to 67,0000 in late July 2007.
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