Banks now send more requests for data on clients they have intheir portfolio than on new clients seeking to take out a loan tothe Credit Bureau.
"There was unfortunately no rise in the number of credit reportsfor new loans in the second half of 2009," Serban Epure, directorof the Credit Bureau, the institution set up by banks to managedata on loans granted to the population, told ZF.
In October and November less than 350,000 credit reports wereissued in view of granting new loans, after 365,000 were issued inSeptember, and almost 400,000 in July and August. The number ofcredit reports requested in view of granting new loans is a goodapproximation of the progression of credit demand from thepopulation.
"I don't think we can talk about a rebound of lending right now.There are a few positive signals coming from banks - lower interestrates, and from the NBR (Romanian central bank) - a decline inloan-loss provisions, but I think it will be a while until theconditions that encouraged lending return - confidence in whattomorrow will bring, job security, and better lending terms," Epuresays.
The volume of loans granted to the population reached 101 billionRON (23.6 billion euros) in October. This compares with 99.7billion RON (23.7 billion euros) in September and 96 billion RON(26 billion euros) in October 2008, according to data from the NBR.The figures indicate that repayments can barely cover new loansgranted.
"This autumn has not seen a lending rebound. People consider takingout a loan, but they have become extremely cautious, because wehave yet to see what 2010 will bring. There is a general trendamong consumers - they don't want to engage in long-term spending.December has not brought a rebound, either - it is usually one ofthe weakest months of the year, especially as far as mortgage loansare concerned. Maybe we will see the market starting to budge againin February-March," says Gabriel Cretu, director of OTP's retaildivision. The bank dropped consumer loans from its offer as earlyas last year.
There were 985,000 credit reports issued for banks and NBFIs inNovember and at 460,000 in October, a much higher number than thatof applications for new loans.
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