5.1% rise in loan arrears in March

The total value of the retail loans encountering payment arrears of at least 30 days continued to increase in March up to 1.39 billion lei (328 .8 billion euros), although the average monthly pace scaled back 5.15% from 17.6% in February.

In contrast with prior-year period, loan arrears rose in March by 122% compared to 111% pace in February 2008 – February 2009 interval.

At the end of February this year, the loan arrears of at least 30 days reached 1.324 billion lei while in first quarter this year, they increased by 41.9% from 981.2 million lei recorded at the end of 2008.

Of the total loan volume, the non-accrual credits accounted for 1.13 billion lei (267.1 million euros) while the loans withheld from the balance and recorded as a cash basis loan reached nearly 96 million lei (22.7 million euros).

The biggest overdue payments of people are loans in local currency, of 974.7 million lei (230.2 million euros), 32.8% higher from the end of last year, while total value of arrears for loans in euro stood at 381.25 million lei (90 million euros), up 68.9% from December 2008.

Arrears for credits in US dollars climbed to 4.13 million lei at the end of March 2009, up 67.3% from the beginning of the year, and for those in foreign exchange (largely in Swiss francs) stood at 32.43 million lei.

The number of borrowers falling behind in payment increased to 511,207, while the number of overdue payments was 733,357.

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