The startup companies in Romania are not financed by banks and reach out to investment funds, said Bogdan Olteanu, deputy governor of Romania’s National Bank (BNR).

Romania’s financial market is not balanced as it is dominated by savings banks. This creates difficulties for small companies that need financing, he added, reports local Agerpres.

The Romanian financial sector should be more diversified, Olteanu added.

editor@romania-insider.com