Unlike 2008-2009, liquidity is now abundant on the market.
“Banks can finance the economy to a great extent, of course, though not at any cost and under any circumstances, but within normal standards. BRD continued funding and first quarter figures prove it,” BRD-SocGen’s CEO told ZF.
The government-backed guarantee programs such as IMM Invest (for small and medium-sized businesses i.e.), to which BRD participates, are very useful under such circumstances and can help cover some of the eligible demand, Bloch added.
Demand for loans will depend on resuming economic activity to as close as possible to the level before the pandemic, François Bloch says. Judging from the signals from the market, companies continued to implement their projects, lending continued, so the activity did not stop. Some clients quickly adjusted their production to the current demand and even saw their revenue increase, the BRD-SocGen official added.
(English version by Loredana Fratila-Cristescu)