A report by the German bank, one of Europe’s top lenders, says “the dynamic of the Romanian banking sector is the highest in the region, with an average growth of 27 percent in the coming two-three years.” By 2011, the assets of local banks could be close to the ones of lenders in Hungary, according to the report.

Deutsche Bank says that the Romanian banking system is in its second stage of development, in which consumer and housing loans, and deposits are growing. “A third stage will follow, in which investments in mutual funds and private pension programs will take the place of classic bank deposits,” the bank’s analysts say.

Among opportunities to assist growth of the Romanian banking system, the report lists an annual 30 percent increase in banking assets, a low ratio of people with banking loans or deposits, and an increase in mortgages. Thus, banking assets are set to amount to €175.4 billion in three years, compared to the current €71 bln.