The emergence of a new wave of loan restructurings with theendorsement of the measures to cut budgetary expenses, as well asthe costs brought by new regulations are bankers' main headachesthis summer. While in spring most bankers announced two-digitgrowth targets for the lending segment in 2010, in mid-2010 mostwould settle for marginal growth, as the economy will most likelynot recover from recession and funding demand is not showing anysigns of picking up. Bankers reckon they must regain clients'confidence, shattered by recent years' experience, but alsocriticise recent regulations for retail lending, meant to ensuregreater transparency. "We expect a second wave of loanrestructurings in the wake of these moves. I believe the bankingsystem can successfully face this," said Sergiu Oprescu, Alpha Bankvice-president. Catalin Parvu, general manager of Piraeus Bank,also believes public sector employees will have trouble in payinginstalments. As costs cannot be slashed, Parvu says banks need totry to boost their revenues, with fees as one channel. "I'm talkingabout providing more services for a higher number of clients, notcounting just on loans," Parvu says.
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