Bank assets in Romania stand at 60% of GDP

Romania’s bank assets amount to about 60% of the GDP, said Florin Danescu, executive chairman of the Romanian Banking Association. This seems like a lot, but the European figure amounts to 360%, he added. The local laws and perception are negative against banks, which have never used public money. By comparison, Europe has always used public money for banks, said Danescu, cited by local Agerpres. The economy needs lending and the banks’ support, as local lenders account for 96% of the total financing of the Romanian economy, Danescu added. editor@romania-insider.com