“We have approximately 4,000 credit requests processed in the scoring system for 9,000 clients which showed interest in the program,” added Cojocaru.

The National Fund for Credit Guarantees (FNGCIMM) allocated a total 171 million euros for credits granted by BRD through the Prima Casa program. BRD said it will ask for additional sums if the lender will give away the entire amount already approved by the fund.

Some 20 banks handed in offers to participate at the program. These were BCR, BRD-SocGen, Raiffeisen Bank, CEC Bank, Alpha Bank, Volksbank, Banca Transilvania, Bancpost, Banca Romaneasca, Piraeus Bank, Bank Leumi, ATEbank, Intesa Sanpaolo Bank, Credit Europe Bank, OTP Bank, Unicredit Tiriac Bank, ING Bank, Emporiki, Millennium Bank and Garanti Bank.

ING Bank subsequently announced it wants to exit the program and that it will launch a similar product this summer, in the limit of 80,000 euros for each loan.

The government established a ceiling for credits granted through the Prima Casa program at 1 billion euros and each bank was alloted a limit in the volume of the loans through the pro-rata system, depending on the offer initially filed.