Bankers have manifested their interest during initial talks in taking part in the program to offer 80 percent state-secured mortgages for the acquisition of a first home, and are expecting a meetng this week with representatives of the government and the National Bank to find out further details.
“If we sit down at a table with the government, [National Bank of Romania] BNR representatives, and banks, possibly through the Romanian Banking Association [ARB], then the program will remain one of intent only. All the banks who wish to take part in this program must participate equally, provided the Ministry of Finance is also willing to issue letters of guarantee. CEC Bank intends to participate in this program. We are expecting this intention to be developed more clearly in the coming days,” according to a statement for Business Standard by Radu Gratian Ghetea, President of CEC Bank.
At the opposite end, government officials are demanding lower interest rates, something that immediately led to discussions among bankers on how low interest rates should be for loans in this program.
