“Such a resynchronization would obviously lead to a higher economic prosperity in Romania, as Romania has a great advantage by having lowest level of financial brokerage in the European Union,” Oprescu, who is also Alpha Bank president, told a banking conference Thursday.
Oprescu added that the increase of the rather low level of financial brokerage might trigger the growth of national prosperity expressed as GDP per capita.
ARB head added that, before the financial crisis, lenders were fighting for the market share, like it happened in every emerging market.
“In this scenery, clients, in their turn, were subject to highly important sales increases. They were counting on an annual sales growth of 30-40-50%. And the banks, you know, were living in their own bubble. The clients were imagining that tomorrow will be better and better and the banks were imaging that no crisis would come. When it occurred, there was a discrepancy between many of the loans already granted and the companies’ balance sheets”, Oprescu stated.