BCR, the largest bank in Romania based on its assets, finished in March its funds for the First House lending program and doesn’t accept new applications anymore, said Dana Demetrian, BCR executive vice president.

The average age of the bank’s customers who applied for the First Home Program is 30-35 years, she added.

“The time gap with other markets can only be recovered through such government programs,” the BCR executive said.

Romania’s Finance Ministry could supplement the funds available for the First House program by RON 500 million (EUR 109 million).

The financing ceiling allocated for the first months of this year amounts to RON 2.5 billion (EUR 548 million). The state also added some RON 175.5 million (EUR 38 million) to the financing ceiling, which was left unused from 2016.

The program has recently reached a record number of requests, with more than 600 new applications submitted daily, according to the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM).

editor@romania-insider.com