Romania has problems at the macroeconomic level. From estimates of economic growth by 1.3% for this year we got to drops of 0.5%. It is true that the industrial production increased by 4.2% but this was the weakest growth in eastern Europe – only 4.2% in March, when Poland was 11.2% and the Czech Republic was 8.4%. At micro level, the things started to move until two or three weeks ago, when they all started to be reluctant” the CEO of Banca Transilvania, Robert Rekkers said to the students of the Babes-Bolyai University in Cluj.
The announcement of the government that interests will be taxed for bank deposits made some people to withdraw their money. “ They probably believed that the deposit will be taxed and not the interest” Rekkers said. He admitted that after the government announced the measures regarding the reduction of pensions and salaries, the bankers won’t have an easy life. “ Nobody says it will be easy as a banker. We already think of solutions for those who will have reduced salaries.Certainly, this is not the moment for loan relaxation”Rekkers said. The BT head estimated that the top of nonperforming loans and doubtful credits will reach its maximum in Q2 of 2010. “ The increased cost of the risk will be covered by the margins” Rekkers said, showing that the evolution of the cost in the perspective of next months.
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