Raiffeisen, the seventh bank domestically in terms of assets,Austrian-held, is selling loans worth 30-35m euros to individualcustomers each month, a level similar with the one registered in2006, and its representatives say the volume of funding released onthis client segment in 2010 is set to top 300m euros at the end ofthe year. Sales have risen in recent months owing to refinancingdeals.
"Volumes have increased significantly since we started promotingthe idea of refinancing. There are few clients asking forrefinancing just to move from one bank to another, most of themwant additional money," stated Răzvan Munteanu, vice-president incharge with retail at Raiffeisen. He specified that on the mortgageloans segment, refinancing deals account for one quarter of newloans.
The amount of retail loans goes up by around 10m euros monthlyconsidering sums paid back by clients come to 20-25m euros.
Munteanu says that as individuals' indebtedness degree is veryhigh, banks are increasingly focusing on strengtheningrelationships with existing clients and attracting good clientsfrom rivals.
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