Austrian banks reduce exposure to Romania

Austrian parent banks have decreased their exposure to Romania by a collective €1.79 billion between July and September to €28.31 billion, after the €178-mln reduction a quarter earlier, data from the Bank for International Settlements show.
The data on the international banking market provided by the Bank for International Settlements, also called “the bank for central banks”, point to a reduction in European banks’ position to Romania by a collective €3.5 billion, a massive foreign capital flight from the country led by Austrian banks.

At the end of June 2009, Austrian banks had €30.1 billion exposure to Romania.

European’s cross-border exposure to Romania stood at €77.1 billion at the end of September last year, around 95.78% of Romania’s total foreign money, at roughly the same level as in March 2009. European banks’ exposure to the country stood at €80.62 billion in the second quarter last year.

Foreign banks’ exposure to Romania decreased by €3.72 billion between July and September 2009, to €80.5 billion.

Ranking second by their exposure to Romania are the French banks with €10.67 billion at the end of third quarter 2009, which indicates a reduction in their position by €530 million from end-March.

Italian banks rank third, with €8.98 billion exposure at the end of September, €440 million below Q209 levels.

According to BIS data, Dutch banks have reduced their position in the country by only €70 million in the third quarter 2009, from €6.85 billion to €6.78 billion.

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