The credit hunger of the past years made that 1.9 million Romanians took out loans from at least two banks, and the loans of 6% of them are now in default, according to data with the Credit Bureau.
Data with the Credit Bureau, the organization established by commercial banks to manage information about the retail banking market, also indicate that more than 120,000 customers were falling behind with their loan repayments to two or more creditors, as of end-September. The record is held by a customer who is indebted to no fewer than 14 banks.
Although the bureau has not totaled the number of loan defaulters as of end-September, data with the National Bank of Romania, some of them taken over from the Credit Bureau, show that there were more than 400,000 customers whose loan repayment was more than 30 days in arrears.
Credit Bureau Director General Serban Epure says prudence is now the operative word of the banks. “We can notice signals that the banks are increasingly more interested in credit scoring, a product we will offer most probably starting early next year,” says Epure. He also says a decrease in loan applications is visible, while some partner banks started carefully monitoring their customers, asking for periodic reports on their financial behavior.
The number of loan defaulters is still small, when compared with the total number of loan takers, which is standing at 4.2 million.
Most of the loan takers are in the 35-39 age bracket, at 611,000. They are followed by the loan takers in the 30-34 age bracket, at 602,000. The Credit Bureau has records on loan takers aged up to 80.
In terms of loan size, the largest market for the banks is Bucharest City. Cluj County, Constanta County, Dolj County and Iasi County follow in this order.
Most of the loan takers are in the 35-39 age bracket, at 611,000. They are followed by the loan takers in the 30-34 age bracket, at 602,000. The Credit Bureau has records on loan takers aged up to 80.
In terms of loan size, the largest market for the banks is Bucharest City. Cluj County, Constanta County, Dolj County and Iasi County follow in this order.
The preferred product of loan takers has been consumer loan. According to statistics, banks are currently carrying out more than 4.4 million consumer loan contracts. Credit cards are second, with little over 1 million active accounts, plus almost one million of credit overdraft lines.
There are 41 banks and 11 non-banking financial institutions currently taking part in the Credit Bureau. Out of them, 28 banks and 7 non-banking financial institutions provide and receive both negative information (related to outstanding debts and irregularities in relations with banks), and positive information (identification data and the amounts taken out in loans).
Epure says the bureau currently covers more than 98% of the retail banking market in terms of positive information. Likewise, the third stage of the implementation of the Credit Bureau project, which comprises provision of credit scoring based on information about bank customers – is nearing completion. The scoring product is said to help banks assessing the creditworthiness of potential customers more easily.
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