UniCredit Tiriac Bank is preparing to implement the revised lending norms for the population, after becoming the first player in the system to have received the approval of the NBR (National Bank of Romania). The bank will have to revise its IT system, so it will continue to grant credits in line with the old norms, at least for another few days. In fact, the bank's lending norms have not suffered any major changes, considering that the old provisions were fairly conservative, as well. The NBR has not imposed a modification of the minimum spending basket, while client indebtedness levels have not fluctuated a great deal, either. Under the old norms, the bank accepted a maximum indebtedness level of 60%, while other players allowed as much as 70% of the revenues. "Credit is a partnership between clients and banks, and, more often than not, it is a long-term relationship. In this partnership, it is important that the sum granted brings the client an improved quality of life, but that they should also be protected as much as possible from factors such as exchange rate volatility and interest rate modifications," said Zoltan Major, UniCredit Tiriac Bank Vice-President in charge of retail.
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