BUSINESS

Austrian, French and Greek banks curb exposure on Romania

Foreign financial institutions curbed their exposure on Romania by EUR 2.6 bln in Q3 2011, against the previous quarter, to more than EUR 82 bln, according to data provided by the Bank for International Settlements, quoted by ‘Romania libera’ newspaper. Austrian, French and Greek bankers have severed most lines to Romania. However, exposure still remains above the figure of September 2010 and is just 5 pc under the level registered at the beginning of the recession. Austrian banks have reduced most of the exposure in Q3 – almost EUR 2 bln – while French and Greek banks cut it by EUR 700-800 M in the third quarter of last year. Over the same interval, Dutch financial institutions brought to the country half a billion EUR, and Italians increased their exposure by more than EUR 200 M. But the highest exposure increase was that of German banks, which are not directly present in the local market, by almost EUR 1 bln.

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