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September 24, 2021
BUSINESS

Fitch: Romanian banks are East Europe’s riskiest

Balkan, Hungarian banks are the most vulnerable in Eastern Europe to any renewed crisis as the volume of bad loans remains high and sluggish economic growth curtails lending, Fitch Ratings said, according to Financiarul daily. “Banks are not doing so well, specifically in terms of banking asset-quality data, in Romania, to some extent Hungary and to a lesser extent Bulgaria,” Michael Steinbarth, a senior director at Fitch in London, said in an interview for Bloomberg. Romanian and Bulgarian banks are also at risk of contagion from the Greek debt crisis, and Hungary’s temporary bank levy is cutting into profits.

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