Speaking at a financial market forum held by the Romanian Banking Association (ARB), Isarescu said Romania’s macroeconomic picture is the best of the past 27 years but there are also major risks.
As fiscal and monetary policies become less stimulating, it will be up to lending to drive growth, Isarescu said. He told bankers they need to regain their credibility, which has eroded in recent years.
“At present, the solvency rate of banks in Romania is very high, at around 18%. Savings in Romania are higher than bank loans. You have excess liquidity and a stable exchange rate. Interests are low. We can’t say loans are expensive and yet lending is not pricking up,” Isarescu told bankers.