Schreiner: Volksbank Romania to exceed profit target for 2008

However, he added, the lender's long term profitability could be impacted by the financial crisis. 

"I think the cost-revenue ratio will increase in 2009, but this is a trend likely to be visible on the entire market, given refinancing costs increased significantly at an international level," Schreiner told NewsIn agency. 

Volksbank Romania sent its new lending rules to Romania's National Bank (BNR) and they are set to be approved this week or next week, according to Schreiner. Banks have to change their rules following a new package of regulations issued by BNR in an attempt to curb lending and lower risks for both banks and their clients. 

Once the new rules are approved, Volksbank Romania will adjust its IT system and train its employees so that it can grant loans in accordance to those rules in the second half of October, Schreiner said.