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Bucharest
September 19, 2019
BUSINESS

EUR 31.8 M paid to banks for bad loans

The National Fund for Guaranteeing Credits for SMEs (FNGCIMM) estimates that it will pay EUR 31.8 M for bad loans this year, up by 9 per cent compared to 2010, FNGCIMM President Aurel Saramet stated. “I would like to underline the fact that the bad loans’ evolution in the banking system was much more dynamic compared to the evolution of payments done by this institution,” Saramet stated during a press conference organized to mark 10 years of FNGCIMM activity, Mediafax informs. He pointed out that the bad loans’ rate grew to 14.4 per cent this year, up from 11.8 per cent last year and 7.9 per cent in 2009.  Approximately 40 per cent of the total payments were made for commercial companies, while payments for companies operating in the industrial sector had the second-largest share (20.1 per cent). Referring to the value-wise distribution of payment requests received, Saramet pointed out that more than 55 per cent of the payments are made for credits offered one year earlier at most. For this year, the FNGCIMM President estimates that 9,125 SMEs will benefit from the Fund’s guarantee, compared to 8,562 one year ago, the number of jobs thus backed set to grow from 100,000 in 2010 to 115,000 this year.

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