Loading ...Even the strongest companies can find themselves in hot water when beneficiaries cease paying, whilst in times of crisis, problems that are not solved immediately can spread rapidly to several directions, with unpredictable outcomes, in crisis times contagion is unstoppable. Crises can be compared to epidemics; they spread to all directions and affect both the rich and the poor,”
Raiffeisen Bank first vice-president Marinel Burduja told an interview with the Ziarul Financiar on November 24.
Raiffeisen Bank first vice-president Marinel Burduja told an interview with the Ziarul Financiar on November 24.
The crisis fallout deepens, the only companies that will survive on the domestic market are ones that are profitable, that sell competitive products, and are run in a “responsible way Burduja opines, adding that it is unnecessary to talk about a freeze in lending, but rather banks must adjust themselves to the new market conditions “… RON lending can remain strong, if used correctly, the Ziarul financiar reads on.
Burduja adds that domestic banks have yet to report any serious problems, but it remains crucial for the political and economic authorities to have the right attitude towards banks. The banker also maintains the level of loan interest rates depends only to a small extent on banks, revealing that international banking groups in Romania are also hurt by the crisis, and will first solve their own problems and only then, if possible, will they solve the subsidiaries’ issues.
“We are prepared for certain customers to have problems, because to a certain extent this is unavoidable. We are facing highly volatile prices for financing resources, amid the lower appetite of international banks to grant lending lines to Romania,” the newspaper says, quoting Burduja as saying.
In this context, the banker says there will be constant budgetary reviews in the case of both customers and banks and finding solutions to the deteriorating financial and economic situation, can only come from the government, something that has already happened in most European countries, but the Romanian authorities reacted late and they tend minimizing the dangers, and the downgrade of Romania’s rating, though severe, is also drawing attention to the fact that it is currently an unpredictable country, the Ziarul financiar concluded.
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