The factors that led to this growth were the interest rates at all-time lows (interest rates on leu loans reached the lowest level after the fall of the communist regime in 2015), the improved consumer confidence in the country’s economy (analysts expect it to grow by 4% to 5% in 2016, the fastest growth pace in all the EU) and the return of the easy-to-get loans that lenders used to offer during the boom years.
Personal loans and other types of leu loans saw their first growth in December 2015 in seven years.
The previous increase before that was recorded in 2008 and stood at 22% compared with December 2007. In other words, banks are back to the good days of the boom years when it comes to lending, while paying even less than 1% per annum for deposits. (EUR1=RON4.4852)
(English version by Loredana Fratila-Cristescu)