BUSINESS

Radu, Unicredit: Banks are chasing deposits

It is more and more difficult for banks to gain access to funds from abroad and, in order to back loans, lending institutions need deposits, insofar as European institutions require a healthy ratio between loans and deposits, Rasvan Radu, executive chairman of UniCredit Tiriac Bank, stated, quoted by Mediafax. Furthermore, he argued, European and local regulators are keeping a close watch on whether banks manage to maintain a balance between deposits drawn and loans granted. When asked whether this may lead to a hike in interests on deposits in the near future, the UniCredit official argued this trend could already be seen and would continue in the foreseeable future.

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