The volume of new loans local banks granted to the population and companies in the four months since the beginning of the pandemic accounts for 8.5% of the balance of non-government credit at the end of June 2020.

According to the Romanian Association of Banks (ARB), loans granted to companies drove the lending activity.

The population took new loans amounting to RON 9.8 bln (EUR 2.04 bln) or 42.5% of the total new loans.

Some 89% of the retail loans were denominated in local currency.

The companies contracted loans amounting to RON 13.3 bln (EUR 2.77 bln), or 57.5% of the total new loans granted to the non-governmental sector.

Only half of the corporate loans were in local currency. Out of the total of RON 23.1 bln (EUR 4.81 bln) of new loans extended since the beginning of the pandemic, over three quarters (77%) were denominated in RON, namely RON 17.85 bln (EUR 3.71 bln).

(Photo: Pixabay)

editor@romania-insider.com