BUSINESS

Crediting picks up and First House 4 programme may resume

The president of CEC Bank and of the Romanian Banking Association (ARB), Radu Gratian Ghetea yesterday said that the First House 4 programme might be launched in a few days. During an event dedicated to European funds, the banker explained that there is a very high interest for this programme, which is already in demand, according to Money.ro. “The crediting activity picks up as we have the first signals about overcoming the recession. Against this background, the stability of incomes will increase and people will once again wish to consume. We already are at the fourth First House programme, and there is much interest for it; we have mortgage crediting products, credits for the population, all these will make things move in the second part of the year, soon enough.

Without targeting the 2007-2008 period, we will witness a consumption increase in 2011,” Ghetea explained. “We hope that the order which approves all the forms needed in view of implementing this project will be published today (Tuesday),” Finance Minister Gheorghe Ialomitianu said during the same event. The president of CEC Bank added that the time will come “very soon” when interest will no longer make the difference between loans in local or foreign currency, because they will have similar interest levels. A number of 11 banks – accounting for 80 pc of the total volume of guarantees – expressed their intention to participate in the First House 4 programme, the National Guarantee Fund for SMEs (FNGCIMM) announced at the end of last week.

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