BRDĺs CEO: No state aid needed for Romanian banks

The endorsement strategies adopted by western governments for struggling banking system, such as capitalizing lenders, is not needed at this moment for the banks in Romania, said the chairman – CEO of BRD Groupe Societe Generale, Patrick Gelin.

“The endorsement strategies for the banking system adopted by the western governments are not, in my opinion, needed at this moment in Romania. Romanian banking systems had a positive year-on-year evolution. Furthermore, Romanian financial system is healthy, as the banks have no direct exposure to American market”, said Gelin, quoted by NewsIn.

On the other hand, he stressed the importance of other endorsement measures for the economy, in the context of international financial crisis, such as investments in infrastructure.

“There are other endorsement measures for the economy, such as infrastructure works”, BRD’s CEO added.

In mid Ocober, after a meeting with president Traian Basescu, representatives of BNR and of commercial banks, attendants agreed on a partnership designed to cushion the effects of the economic crisis over Romania. However, the measures adopted depend heavily upon the new government.

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