In the first stage of the "First Home" scheme, banks granted thehighest number of loans in Bucharest and in Western Romania, mostlyfor old homes. The usage of the amounts allocated ranged from 26%to over 80%, according to data supplied by banks.
Greek-held Alpha Bank, for instance, had granted 1,080 loans viathe "First Home" scheme" until the end of last month, when another500 applications were in the process of being approved. 48 millioneuros were granted, i.e. 50.5% of the guarantee cap allocated forthe bank. Cumulated, the 19 banks participating in the schemegranted loans worth around 600 million euros, accounting for alittle more than half the guarantee cap allocated for the entirescheme.
On the other hand, ATE Bank, a small player, used 81% of theallocated amount. The bank granted more than one hundred loansworth a total of just 5.3 million euros. The average loan amountedto 47,500 euros.
According to data provided by banks, ATE Bank was the bank thatused the most of its allocation for the "First Home" scheme.However, according to market information, Banca Transilvania usedup its entire allocated amount, as it guarantee cap was much lowerthan the potential of the bank's distribution network.
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