Banks promote lei-denominated fixed interest loans

 “We have noted that many of the banks whose norms were approved by BNR have turned to lei-denominated fixed interest loans. BNR has presently approved the norms of 11 banks, and is due to approve the norms of BCR and CEC Bank in the coming days,” according to a declaration for Business Standard by Nicolae Cinteza, the Director of the central’s bank’s Supervisory Department. Some bankers have stopped offering loans to the population in euro and Swiss francs, or have sharply restricted lending. “The Euro-denominated loan will diminish in time, because foreign currency-denominated loans are risky. In this period, when things are happening outside Romania, it is natural for each bank to review its risk profile. They are no longer throwing money out the window,” added Cinteza. Representatives of the UniCredit group are talking about the possibility of a short-term halting of mortgages, which is an option that has presently been ruled out by local bankers.