Loading ...Companies belonging to the Romanian Association of Credits Brokers (ARBC) intermediated loans worth 222.78 million euros last year, 59% of them in euros, namely 131.72 million euros, and 31% in Swiss francs, the equivalent of 69.09 million euros. RON credits accounted for 10%, namely 21.96 million euros.
36%, namely 80.456 million euros, of the total intermediated loans were mortgage credits, and 64%, namely 142.31 million euros, were without mortgage. There is a difference of up to 30% between the registered and the real credits, so that Romanians find financial resources to pay back the loans, ARBC officials say.
Despite the fact the credits brokers promote loans in Swiss francs, Romania’s Central Bank (BNR) drew attention about the loans in hard currency, given both the variation between the Romanian currency and the euro, and that between the Swiss franc and the euro.
"We are aware of the risk the hard currency loans mean, but it is valid for any hard currency, after all." Nevertheless, taking into account the rise in the reference interest for the RON, Romanians will not borrow RON just for patriotism, ARBC president Anca Bidian told the Adevarul daily.
There is, any time, the possibility of converting or refinancing the loan, if the Swiss franc is an attractive currency any longer, Bidian stressed as well.
Swiss franc credits allow clients to access more money for immediate needs. The money is borrowed to buy a dwelling or land, so that the loan matters more than the bank (it comes from) or the costs, for the client, ARBC official says.
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