“I do not understand why BCR sold this loan, I will contact the bank. I have four or five arrears, which total approximately €25,000. I will pay this debt by 30 October,” Stoiculescu told Business Standard.
He indicated that the BCR loan was contracted in his own name and is backed by real estate collateral. “I pay €500 in principal and €5,000 in interest every month,” the businessman said. This means that the instalment amounts to €5,500, putting Stoiculescu’s monthly income when he took out the loan at some €10,000.
Romanian banks intensified their nonperforming loan sale activity, in order to clean up their balance sheets and stay within the solvency indicators requested by the National Bank of Romania (BNR). In the first eight months of this year local lenders sold over 60,000 files of debts worth a total €364.3 mln to companies specializing in debt collection.
The Fitch rating agency announced two days ago that BCR might need new capital injections to maintain the solvency rate above 10 percent and to ensure a safety net against potential risks and pressures on profitability, considering the significant rise in provisions.
