We have cash and have cut loan interests. We are waiting for demand to return, say bankers
Bankers could further cut loan interests because they have enough cash, but for now they are waiting for client demand to return and are bracing for the resumption of lending with offers to refinance rivals' clients, concluded participants at a seminar organised by ZF in partnership with Alpha Bank, Salans law firm and Ensight consultancy.
The volume of loans granted to individuals and to companies has stagnated at around 200 billion lei (49 billion euros) because of the lack of solvent demand, as well as amid a tightening of lending conditions. Bankers say, however, that corporate loan demand is starting to pick up, but that individual clients do not show signs of wanting to spend more.
"We have received increasingly more applications for loans for investments and I think the number of investments to boost production capacities will increase in the coming period considering the very good performance of industry and exports. The funding granted by banks will focus around companies this year and will tend to amount to loans for investments rather than for working capital," specified Sergiu Oprescu, Alpha Bank executive president.