Flow of small-business credit to be revived at the end of this year, Raiffeisen says

The first positive signals of a revival in lending to companies will be seen no earlier than the end of the year, declared for NewsIn Marinel Burduja, first vice president of Raiffeisen Bank Romania, responsible for the lender's corporate division.

However, there are some necessary premises in the economy, like cheaper credit and adequate money market policies.

“We need measures to stimulate agriculture and to attract structural funds,” he added.
Burduja stressed that, in the current market conditions, companies should use their resources more effectively.

The Raiffeisen Bank official also thinks that external solutions for Romania's economy will be limited.

“It is important to understand that solutions will only come in a limited percentage from the International Monetary Fund (IMF) and European Union (EU) funds. This loan does not solve the economic growth problem in the Romanian system, but only mitigates the effects of the crisis and represents premises for necessary solutions,” Burduja explained.

Raiffeisen Bank Romania estimates it will maintain the credit portfolio for companies at the same level reported at the end of 2008, as the volume of loans on the corporate segment was similar to the amount at the end of March last year.

Loans granted by Raiffeisen to companies reached 1.155 billion euros at the end of 2008.

Outsourced loans amounted to 2 billion euros on both corporate and retail segments. Burduja does not rule out the possibility that a part of these loans will return to Romania, but says this is a normal practice.

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