Loan demand from the private sector is very weak and theNational Bank has no levers to intervene, with measures that willtarget the resumption of economic growth in general being needed,believes Mihai Bogza, Bancpost chairman and former governor of theNBR (Romanian central bank).
"The problem (of the low demand for financing i.e.) is not in thehands of the NBR. It is an economic problem. Measures should not beaimed strictly at reviving lending, but at resuming economicgrowth," Bogza told ZF in an interview.
He says Bancpost has not been able to boost its portfolio of loansgranted to private-sector clients, although it had sought atwo-digit rise for this year, and even had promotional campaigns inspring.
"On the corporate segment, there are certain companies, rather thanwhole sectors that are performing well. Mortgage loans are alsoseeing a slight rise. But as far as small companies and consumerloans are concerned, demand is very weak," Bogza says.
On a separate note, the head of Bancpost says the price of loansneeds to consider the cost of risk (provision costs for unpaidloans), with its rise overcompensating for the cheapening offinancing resources.
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