Thevolume of non-governmental lending fell by over one billion RON inOctober, to 206.8 billion RON, after it had been revived in thesummer months amid the faster rise of foreign-currency loans.
The weakest performance was recorded by individual loans, whichsaw a 2.1% decline in the volume of funding in RON last month, to36.5 billion RON, while foreign currency loans were down by morethan one percent, to 64.7 billion RON (the equivalent of 15 billioneuros), show data of the NBR (National Bank of Romania).
"The decline of individual loans is directly connected to theausterity measures. In previous months, the impact of thesemeasures was not very apparent because there were loanrepatriations, but since we are not talking about repatriationsanymore, a more anaemic image of the market is beginning toemerge," comments Nicolaie Chideşciuc, chief economist of INGBank.
Compared with the autumn of last year, the volume ofRON-denominated loans for the population fell by nearly 7%, withbankers saying that only promotional offers are able to give themarket a boost because the clients' reluctance to become indebtedremains high. Banks' appetite for lending is not very significant,either, with loans becoming more expensive in the past fewmonths.
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