Consumer finance companies and leasing firms have this year lostten of thousands of clients as new funding has not kept up with thepace of repayments.
At the same time, leasing firms have recovered ever more goodsfrom bad payers and closed the respective funding contracts.
In late August, NBFIs (non-bank financial institutions) had around242,000 loans granted, down from over 290,000 at the end of lastyear, according to NBR data.
Leasing firms have published several thousand ads on their websiteswith the goods repossessed from clients, largely cars, with theirresale becoming the companies' main business as new funding plungedby 70% last year and by 30% in the first half of 2010.
The situation is likely to deteriorate further in the second half,as retail funding was completely frozen in July and August, aperiod during which leasing firms adjusted their contracts to theEmergency Ordinance 50/2010.
Since the start of the year, the total volume of funding releasedby NBFIs registered with NBR's special registry has dropped by 330meuros, to 7.54bn euros (the equivalent of 32bn RON).
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