Cosma, Banca Romaneasca: Loan demand is slightly picking up

Funding demand is recovering at a moderate pace on the corporate segment, says Crina Cosma, general manager of Banca Romaneasca, the Romanian subsidiary of National Bank of Greece (NBG) Greek financial group. "In terms of lending, we've budgeted increases this year, but moderate ones, as the absorption capacity is also low," says Crina Cosma. Loans granted in Romania slipped 5% in 2009, to 2bn euros, according to the results NBG published in Athens. The decline was steeper on the retail segment, where the volume fell by 7%, to 957m euros, as the bank almost exclusively focused on mortgage financing, being an active participant in the "First Home" programme. On the corporate segment, the volume registered marginal variations, going down to 1.1bn euros. "We have sufficient funds for lending. The local deposit base is solid, and securing funding for Romania is not a problem for NBG group as it has surplus cash," says Cosma. Attracted deposits went up by 39% last year, to one billion euros.