UniCredit Tiriac Bank has a 15-20 percent exposure on the real estate sector. According to Pascariu, the crisis will lower the exposure of lenders on the real estate sector.
He added that payment delays were already registered in this field and their rate is expected to increase, “but people must understand that the crisis situation is not an excuse for not meeting one’s obligations. Those who do not comply will take the rap for it after the crisis is over, because they will be considered defaulters,” Pascariu told Business Standard.
On the other hand, Gerald Schreiner, President of Volksbank Romania, the lender with the highest exposure on the real estate sector, at 95 percent, estimated that the rate of payment delays will increase to six percent, from the current four percent, while the rate of defaults will remain below 2 percent.
