RBS cuts exposure to Romania by 250m euros

10 mai 2010 Ziarul Financiar

Britain's Royal Bank of Scotland cut down on loans granted in Romania by 250m euros, namely 12%, during the first quarter. Thus, the amount slid to 1.79bn euros in March, according to the data published in the British group's quarterly report. Domestically, RBS Bank Romania's officials did not comment on the first quarter figures. The decline came mainly amid the reduced exposure to banks and financial institutions, which halved, to 247m euros. At the same time, funding to individuals, as well as placements in T-bills dropped by 2% and 8% respectively. Thus, retail loans in late March stood at 567m euros, while the T-bills portfolio was worth 107m euros. The only segment to which the bank raised its exposure was the corporate one, where volumes went up by 2%, to 875m euros. The British group publishes the list of countries with a rating below "A+" where it has exposures topping the equivalent of a billion pounds (1.1bn euros). Romania is at the middle of a 15-country list.