A year after the violent crisis outburst on the domestic market,loan portfolio quality is starting to stabilise, but monthly salesare half the 2008 average and there are no prospects of asignificant acceleration, says Lucian Croitoru, executive managerof the Commercial Pole of BRD-SocGen network.
From his position, Cojocaru is in charge with coordinatingcommercial operations for individual clients, as well as for firmswith annual turnovers of up to 50m euros. BRD is the second largestbank on the market, with a portfolio of 2.5 million clients and aloan volume of 28.9bn RON (6.9bn euros on June 30).
Lines of credit needed to be restructured particularly in thefirms' case, as most of them faced falling sales, thus becomingunable to pay instalments for contracted loans.
In the case of individual clients, restructuring was lessextensive. Yet, BRD has to change its procedures: while loanrestructuring for individual clients was operated at a centralisedlevel until 2008, starting this year this became the network'stask.
In general, restructuring steps have yielded positiveresults.
After the shock of plummeting sales of spring, firms in summerstarted looking at plans for the future, says Cojocaru, and this isfuelling loan demand as well. Instead, in the area of financing forindividuals, Cojocaru is still downbeat.
The volume of monthly loan sales stabilised as early as May ataround 50% from the monthly average of 2008. "In the case of thepopulation there's an over-indebtedness situation. Amid the currentunemployment prospects, people are more concerned about how to payexistent instalments. I do not believe volumes will rise in 2010,"says Cojocaru.
Though loan sales are considerably lower than those of past years,the volume is falling slowly at BRD, with declines standing ataround 3%. BRD manager says this trend can be accounted for by thebalanced structure of loans granted by the bank.
"A decent loan growth rate would stand at 10%-15%, but this mightnot happen in 2010".
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