The branches of Bancpost, one of the ten largest banks on the market, are no longer authorised to grant loans, not even loans as small as 1,000 euros, with the entire credit file scoring and approval system being centralised, states Theodor Karakasis, vice-president of the international unit of EFG Eurobank Greek group, the majority shareholder in the bank. "We have fully centralised the decision to grant a loan even in case of small amounts. This used to be our weakness but now, based on the scoring system in the back office, we no longer have any problems," Karakasis said. Amid the successive interest rate increases and the steep RON decline, Karakasis says the weight of bad loans in Bancpost's balance sheet is rising, but does not believe this development is "alarming". "Indeed, there's a crisis situation in Romania, too, but if we are aware of it and act accordingly, I believe we can keep it under control. In Romania, there's still considerable denial about the crisis, and this is the worst fact," says Karakasis.
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