BNR official urges banks to accelerate sustainable lending to companies

Ovidiu Posirca 27/06/2018 | 15:41

Florin Georgescu, the first vice governor of the National Bank of Romania (BNR), says that most of the companies need financing, but in different stages, depending on their capital ratio.

He underlined the fact that some firms need loans to bridge the time gap between the payment and collection of funds.

“From the recent economic analysis it results the need to accelerate the lending to firms in a sustainable manner,” said Georgescu.

Speaking about the relation between lenders and small and medium-sized enterprises, he said that 80 percent of these firms have never taken a bank loan.

He went on to say that in the Euro zone, the SMEs represent 98 percent of the total number of firms, employing 75 percent of the active human resources and generating around 60 percent of the gross value in the region.

Georgescu added that the financial education of entrepreneurs is important, adding that public policies should target the promotion of financial instruments and legal changes relevant for business owners.

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