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February 28, 2021

BCR estimates 20 pc increase of SMEs credit portfolio in 2009

BCR estimates a 20 per cent increase of its credit portfolio for SMEs this year compared to last year, BCR Vice-President Wolfgang Schoiswohl stated at a seminar discussing taxation, yesterday, Mediafax informs. At the end of 2008, the bank had a SMEs credit portfolio of EUR 2.6 bn and a market share of 20 per cent on the segment. In the first two months of 2009, the balance of credit grew by another 7 per cent.

The number of the bank’s customers that have benefited from that type of credits – individual persons and companies – was 4.5 M at the end of December.

He said that the main problem would be the identification of the company’s difficulties, saying it was difficult to say how many loans in the BCR portfolio needed restructuring.

On the other hand, the lump sum tax is believed to be discriminating against small companies, said the Vice-President of the National Council of Privately Owned SMEs of Romania, Florin Parvu, at the same seminar. ‘The lump sum tax discriminates against some companies. There are companies with a turnover of EUR 12,000 that cannot cope with the tax.

There are 120,000 such companies. If they close down, the number of unemployed people would grow by 50,000. A company with a turnover of over EUR 30 M would have to pay EUR 10,000 to the state, meaning EUR 83 for every 1 M made. Companies with a turnover between zero and 12,000 Euro pay 3-4 per cent of turnover as tax’, said Florin Parvu, quoted by Agerpres. Companies could be made pay a minimum tax of RON 1,625 per quarter starting from the third quarter of 2009, according to the draft ordinance on the budget revision in 2009 and the regulation of specific fiscal measures which the Ministry of Public Finance has sent to the social partners.

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