The spreads between the interests on new loans and new depositsin RON that banks operate with have tripled since the beginning ofthe year and one of the reasons for this is that banks are nowtrying to boost profits to offset the losses from the loans grantedin the past, says Valentin Lazea, chief economist of NBR. In turn,bankers say that the constant deterioration of loans is a realitythat reflects the difficult economic environment, which they cannotoverlook when granting a new loan.
"This is not good for banks. They should take responsibility fortheir mistakes and show it in lower profits this year compared withthe previous years. Not punish new customers," Lazea said at the"What loan is better - in RON or in euros?" seminar organised byZiarul Financiar and CEC Bank.
The share of loans overdue by more than 60 days in the totalportfolios of banks has doubled since the beginning of this yearuntil July, jumping over 12%, NBR's latest data reveal. As far asindividual clients are concerned, past due loans went up by 10%month by month this year. Unsecured consumer loans, the granting ofwhich sometimes required as little as an ID card from theapplicant, as promoted in 2006 and 2007, are now the mosttroublesome as far as bankers are concerned.
The gap between the average interest on new loans in RON and theaverage interest on new deposits in RON rose to 7.3 percent inAugust, from 2.4 percent last December, according to thecalculations of NBR's chief economist.
"I find this huge and I honestly believe banks are killing thegoose that could have laid the golden eggs," Lazea says.
He adds that lending in foreign currency witnessed a minorincrease in the first eight months of the year (if calculating thevolume of loans in euros), while lending in RON fell by 9% in realterms.
The high interests on loans in RON are therefore the onlyeconomic argument supporting loans in euros, but they have managedto drive the clients to loans in foreign currency, which areriskier, though.
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