Banks need to unleash loans because this is the only way theycan revive their profits, and the rising competition is going topush interest rates downward, says Oana Petrescu, the executivevice-president in charge with retail at BCR, the biggest domesticbank in terms of assets.
"From banks' point of view, there is a real need for lending tobe resumed. The main driver of profit is lending," said Petrescuduring a seminar organised on lending.
She says in the first quarter she noticed an improved loan salesdynamic against the same period of 2010, but increases were minor.However, there are many signs of optimism, as companies, especiallythose with export-related operations, can see their business pickup.
BCR last year registered an around 4% decline in the volume ofretail loans, as new funding sales did not cover repayments. Thisyear's goal is for the volumes to be at least stabilised. Instead,the bank managed a two-digit increase on corporate loans.
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