Bankers last year started a sterile war of refinancing deals,whose only outcome was improved coverage with guarantees, as manyconsumer loans were bundled into larger mortgage loans, but noadditional sums were pumped toward clients.
Unsecured consumer loans were the hardest hit by the lending freezeand registered a two-digit drop, while mortgages were upheld bysales of state-guaranteed loans.
The volume of loans granted to individuals dropped by 5.6% in realterms last year and reached 102bn lei (around 24m euros) in lateDecember and the decline was steeper against a decrease of just3.6% in 2009.
Bankers have bigger expectations for this year as the economy isforecast to exit recession and are trying to attract more clientsfor loans, inclusively through interest and fee cuts.
Data on the entire market show private lending remained flat in thefirst month of this year, but bankers say they did not expect arapid rebound during winter months.
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