The volume of non-performing loans in the Romanian banking system is impressive, says Radu Ghetea

“The banks that have offered loans and made profit for a year or two, are now dealing with increasing levels of non-performing loans, that may be recovered in the future,and the level of non-performing loans is impressive”, said Radu Gratian Ghetea, president of the Romanian Banking Association (ARB).

This statement was made today during a press conference, where ARB launched a new financial and banking educational program for Romanians. The event was also attended by the newly appointed executive president of ARB, Florin Danescu.

According to data from the National Bank of Romania, the rate of non-performing loans was 14.18 percent in September 2011, up approximately 3 percent from the same period of 2010.

Ovidiu Posirca

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