UniCredit Tiriac is currently in the process of establishing the regulations for granting credits to individual clients and expects to submit the norms to the NBR (National Bank of Romania) at the beginning of August. "The norms are not just a standard procedure, we need them in order to grant higher loans to clients with above average incomes," Rasvan Radu, chief executive of the bank, told ZF. In fact, the offers launched by the four banks that have so far received NBR authorisation to grant credits in line with their own individual lending regulations clearly benefit high-income clients. For example, high earners are able to secure credits at a value close to the total value of a property without making any down payments. UniCredit Tiriac is creating its regulations with a broader picture in mind. The bank is making significant modifications in its offer of retail products and services, which would allow it to tap into the mass retail market. Rasvan Radu adds that the bank are hoping to appoint a new vice-president in charge of retail, who would be at the helm of this project.
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