Credits 
Banks will start to grant credits at increased level hardly in spring
The mix formed by the financial crisis and the new regulation of the National Bank concerning the loans seem to be fatal for the crediting system in Romania. Even the bankers recognize it and they appreciate that if those two events hadn’t taken place in the same time, the loaning wouldn’t have frozen, it would have just slowed down. October is considered one of the blackest periods since the post Decembrist loaning period, and November or the following three months don’t seem to be different. It’s difficult to say what has affected more the crediting system in Romania: the international financial crisis or the new regulations imposed by the National Bank of Romania. The bankers say that it would have been better if those two events hadn’t taken place concomitantly. And because the crisis can’t be controlled or scheduled, the new loaning regulations are the ones that should have been postponed. On these terms we would have... citeste mai mult
Decreasing rates diminish the cost of credit up to 30%
When the customers access a credit, they pay a special attention to the interest rates, commissions, reimbursement period, eventual promotional offers, but especially they pay attention to the ways through which they can contract a higher credit. Some information are placed at the disposal of customers, other are just partially presented to them and in most of the times put the banks in a favorable light. There’s for sure that there are ways through which the cost of a credit can be significantly reduced, but these are usually hidden because aren’t profitable for banks. One of the ways through which the cost of a credit can be significantly reduced is the pay back of the credit, respective in flat rates or decreasing rates. The experts say that each of those two options has advantages and disadvantages, but confronted each with another the second one has a net advantage. In these terms, the question of the bank officer: credit with flat rates or credit with... citeste mai mult
The credit for the private sector did not put up the price
The international credit crisis should have made the credits much more expensive and harder of being taken, inclusively in the euro zone. This doesn’t happen at least for the moment, it is revealed in a study published by Guillermo de la Dehesa, president of the Economic Policy Research Centre (EPRC). Although the banks from the euro zone confront with some important problems imported from the American credit institutions, they haven’t increased the costs and neither limited the access towards the loans which the private sector offers. The advance for crediting has easily decreased in the euro zone, but the European banks have been more temperate then the American ones concerning the risks which have assumed, that allowed them to “defy” the subprime credit crisis, reveals the quoted study. According to the European Central Bank (ECB) report from June related to the evolution of crediting in the euro zone, the average interests rates for the granted... citeste mai mult
The absence of information doubles the costs of some credits
The loans of small values, granted fast for short terms but at higher costs than at banks, this is the key of success of the most non banking financial institutions. Almost weekly it is spoken about the join on the market of a new NBFI, prove that there is still room for this type of activities. And the fight for each customer is worth, in conditions in which there are cases when the returned sum is more then double than the loaned one. The loan with the identity card made history in time. Unofficial statistics showed that a Romanian out of three resorted at least once to this type of loan. Meanwhile, the enthusiasm calmed down. It is still practiced in diverse ways, in the big household devices networks. However, the loan to residence, step by step wins terrain. A kind of CAR (mutual help house), how say the ones that take loans before 1989, but more expensive. Both loan types are next to others in the portfolio of the non banking financial institutions (NBFI). In... citeste mai mult
Finicredito arrives in Romania
Finicredito, subsidiary of the financial Portuguese group Finibanco, proposed itself to start activity in Romania at February 1, granting in the first period only credits and leasing financing for the auto area, stated the director of the local branch, Laurentiu Visan. „We intend to start the activity on Friday, February 1, but we haven’t clearly established with the National Bank of Romania the engagement of Finicredito, and these procedures could delay the moment of starting the operations, because we are concerned to respect the central bank requests, stated Visan. Finicredito will grant to customers, for starter, credits and leasing financing for purchasing auto vehicles, both new, as used, fallowing to further supply personal need credits, co-branded cards and another financial instruments. „Meanwhile we develop our activity, we intend on bringing in the Romanian branch all the products which Finicredito applies in Portugal. It has a great importance for... citeste mai mult
Record loan in Czech
The crisis of mortgage credits that burst last year in USA didn’t affect Czech. Anyhow, the impact wasn’t felt until the end of last year, when, according a provisional balance sheet, the mortgage area increased up to14%. A double percentage comparative with all the previsions made by experts. The value of transactions from this area increased to about eight billions dollars. The towns which registered the most loan requests for purchasing houses were in Prague and Brno. In the capital were contracted 24.000 mortgage credits whose amount value exceeded 3 billions dollars. According the press from Prague, the most loans were released in 2007 by Ceska Sporitelna si Hypotechni Banka. In Bulgaria, fresh member of EU, the price for houses increased in 2007, with 28,9% comparative with the previous year. According the date supplied by the National Institute for Statistics (NSI), the medium price of a square meter in 28 of the greatest locations of the country was of 820,9... citeste mai mult
Credits for energetic efficiency conceded to private companies
The European Bank for Recons-truction and Development, EBRD, launched the first facility of lending the Romanian private companies which activate in the industrial area, for financing the projects of increasing of energetic efficiency. The European Bank set up more financing lines meant to the native banks, which at their turn grant loans to the interested companies and that respect the conditions of accessing the money. Three agreements have already been signed, announced EBRD, with BCR for 20 millions euro, CEC (10 millions euro) and Transylvania bank (five millions euro). The loans are part of the common program of EU and EBRD amounted to 100 millions euro for the financing of the energetic efficiency projects from Romania and Bulgaria. The program is completed with Phare funds of 24 millions euro for granting from EU. “ The main purpose represents the encouragement of enterprises to use better the energetic resources in order to control better the... citeste mai mult
