February came with another unpleasant surprise, with privatelending continuing to decline, showing that bankers are stillunable to sell enough loans to cover repayments, despite manyplayers announcing growth plans for this year.
Private lending fell by 0.6% in February, to a volume of 206.6billion lei (49 billion euros). Excluding the impact of inflation,the decline was even greater, of 1.3%. This was the secondconsecutive month of decline, after the stock of funding hadmanaged to rise at the end of last year. Under the circumstances,private lending manages to see a modest annual growth, of 3.7% innominal terms, which, however, turns into an annual decline of 3.6%after eliminating the impact of inflation.
"The annualised trend confirms what we have seen so far.Corporate funding is on the rise, especially foreign-currencyfunding. On the individual loans segment the increase largely camefrom foreign currency loans, and it was exclusively the result ofthe 'First Home' scheme," says Ionuţ Dumitru, chief economist ofRaiffeisen Bank.
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