“Many customers prefer loans in euros because they cannot get the amount they seek if they borrow in lei due to the too high interests,” says Liviu Andrei, general manager of loan broker Alliance Finance.
“First Home” continues to carry a very high foreign currency risk considering the 52,000 loans granted since it was first introduced. Many banks are not even selling leu loans through this scheme.
Most “First Home 4” loans were granted by BCR, BRD and Alpha Bank in that order. BCR, the largest local bank has sold 7,500 loans worth EUR250 million since June.
BRD granted about EUR165 million in loans, while Greek-held Alpha Bank lent EUR40 million to more than 1,000 customers. This means the three banks sold more than three quarters of all the loans together.
(English version by Loredana Fratila-Cristescu)