This means a monthly average of below 90,000 reports, ten times less than in the boom years 2007-2008, and even below the level of 2009 and 2010. The number has not gone beyond 100,000 since last June.
Companies are still wary of borrowing despite the positive economic signals and bankers say that when they find bankable clients these mainly ask for current need loans and not for investments.
Interest rates for corporate loans have contracted visibly lately, with the average cost now revolving around 7%, but bankers have also slashed deposit interests.
Bankers’ loan portfolios are thus further narrowing. In late May, the corporate loan stock stood at 115 billion lei, 3% below the level of May 2013.
On the other side, retail lending seems to have revived, with a monthly increase in the stock of RON-denominated mortgages of around RON350 million. Lei consumer lending added 370 million lei in January-May, after having constantly declined for almost two years.
The Credit Bureau in January-May issued 2.6 million reports at banks’ request for information on the situation of potential clients, up 18% from the first five months of 2013.
(English version by Catalina Apostoiu)