22.4 C
June 26, 2022

Banker: The only threat for Romania – the too high dependence from the EU

Romania should reduce its degree of dependence from the euro-zone, which is the only threat for the evolution of the Romanian economy in 2012, Raluca Alexandru, Director of HSBC Switzerland said yesterday, quoted by adevarul.ro.
“The worrying thing now for Romania, in today’s context, is the high exposure of the foreign banking capital in economy. We cannot have the high increase we had in the previous years, as long as the home countries of these banks have problems and their growth prospects went down,” Raluca Alexandru explained at the Private Banking Conference seminar in Bucharest.

“Europe should somehow isolate the crisis of the euro-zone, as now there is an umbilical relation regarding economic, financial and capital exchanges. These are very closely inter-connected and this is the only threat for the Romanian economy in 2012,” added the official of HSBC – Europe’s biggest bank.

Asked about how Romania could reduce its dependence from the European capital, the bank manager said the solution is represented by the huge resources that come from other regions of the world. “We must diversify our traditional commercial partners. There is much wealth on the globe, from China to Brazil and the Middle East, which is seeking sources of investment. Romania has a higher potential than other countries to attract these resources,” Raluca Alexandru mentioned. Private companies should make the first step on this road, she added.

The Romanian market of financial investments currently amounts to EUR 4 bln, representing assets held by 4,000 customers with banking deposits that exceed EUR 200,000, said Sorin Mititelu, executive manager retail segment division, Banca Comerciala Romana (BCR). “Now, in Romania, there are about 140,000 customers that have deposits above the guaranteed level of EUR 100,000. However, more than EUR 200,000 is needed for an investment strategy. The number of those ranging within this category is of 4,000 investors. In total, they hold financial assets worth EUR 4 bln,” Mititelu said in the Private Banking Conference seminar. According to the same source, there is also a small category of investors that have financial assets worth more than EUR 5 M each. Mititelu finds these figures as reasonable in the present economic context.

Related posts

Daniel Tudor nominated for CSA chairman

Nine O' Clock

Intelligent software robots developed by Tailent, integrated in complex IT solutions offered to Romanian companies by ETA2U


Ponta Cabinet pledges measures to boost growth, jobs

Nine O' Clock