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Late instalments leap to 6.9% of overall loans

Autor: Ciprian Botea

26.09.2010, 23:55 11

The value of overdue instalments by the population and companiesclimbed by nearly 930 million RON (220 million euros) in August, toa 14.4 billion-RON high, with their share in the overall loansclimbing from 6.5% in July to 6.9% at the end of August, show datafrom the NBR (National Bank of Romania).
The biggest leap was recorded by late payments of foreign currencyloans, with their volume climbing by the equivalent of 143 millioneuros, to 1.7 billion euros (7.3 billion RON). The growth rate oflate payments on foreign-currency loans has increased over the lastfew months, signalling a deterioration of the financial situationof clients with secured loans and difficulties in restructuringcorporate loans.
"There is a structural problem here because there has been adifference in the quality of clients who took out foreign currencyloans and those who took out loans in RON, which made the formermore resistant to the current economic context. But the crisislingered on and clients with loans in foreign currency are startingto be affected, as well," believes financial analyst AurelianDochia.

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