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October 5, 2022
BUSINESS

Ghetea: National Bank did not know the crisis was coming

Radu Gratian Ghetea, President of the Romanian Banking Association (ARB), stated in the opening of a conference “The new banking order and the re-launch of the economy” that the National Bank of Romania (BNR) did not foresee that the financial crisis will hit Romania, ‘Evenimentul Zilei’ daily informs. The President of ARB gave assurances that the banking system is stable at this point but commercial banks cannot offer loans because the market does not have optimal conditions. “The criticism according to which banks sit tight and offer loans to the state are baseless,” he said. On the other hand, he pointed out that commercial banks are preoccupied with what is going on in the economy. “The banking system is in a good shape because the National Bank managed to maintain a balance during the period of growth. It’s a truth that is fortunately confirmed after a period of crisis, of recession. We don’t know if it returns, whether the crisis has returned or the recession has extended,” the ARB official added. He also stated that the banks are currently keeping a close eye on the competition in order to avoid problems with current operations.

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