“The accumulation of new NPLs has slowed down, supported by stabilization in the retail sector (…) I expect overall NPLs will start to decline,” said Dominic Bruynseels, chief executive officer of BCR.
Bruynseels said retail NPLs stand at 19.3% of the total loans in the sector.
“Corporate NPLs are likely to increase. We estimate a gradual recovery, but only after economic growth accelerates,” he added.
BCR’s chief said the bank invested EUR225 million in three-year state bonds last week, of which EUR25 million came from customers.
On May 4, the Finance Ministry sold debt worth EUR939.2 million in foreign paper, at an average yield of 4.89% a year.