27 Martie 2009
BRD CEO: IMF arrangement is likely to soften market interests
BRD deems likely the loan arrangement with International Monetary Fund would ease market interests, in lei, to 10-12%, resulted from the reduction of reserve requirement, said the Chief Executive Officer of BRD-Group Societe Generale, Patrick Gelin.
“All lenders hope this rescue package from IMF to trigger a reduction of interests in Romania or of reserve requirements. We need a reduction of market interests”, said Gelin.
He added that the interest rates would probably notch down to 10-12% per year.
Less than 50% of the loans within BRD’s portfolio are in foreign currency in contrast with 57% level of the market, which makes BRD a “prudent bank”, said the CEO of the bank.
Most of the loans in euro currency are mortgage credits or loans to large companies or SMEs, Gelin added.
“We are conducting a greater outreach to borrowers in distress, and we adopt a case-by-case approach. We don’t want any of our clients to turn delinquent”, said the head of BRD.
He added that the interest rates would probably notch down to 10-12% per year.
Less than 50% of the loans within BRD’s portfolio are in foreign currency in contrast with 57% level of the market, which makes BRD a “prudent bank”, said the CEO of the bank.
Most of the loans in euro currency are mortgage credits or loans to large companies or SMEs, Gelin added.
“We are conducting a greater outreach to borrowers in distress, and we adopt a case-by-case approach. We don’t want any of our clients to turn delinquent”, said the head of BRD.