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December 1, 2020
BUSINESS

Erste keeps exposure on Romania to EUR 8.6 bln

Erste Group maintained its exposure on Romania this year at the level reached by the end of Q2, i.e. about EUR 8.6 bln, the CFO of the group, Manfred Wimmer announced. “This evolution reconfirms Erste Group’s firm commitment to Romania, as our goal remains unchanged. We do everything to support the economy and reach an intelligent and sustainable growth,” the company official said, quoted by Mediafax. Wimmer added that, in this context, BCR’s decision to focus on RON-denominated loans represents “the logical step” and that, especially now, when the First Home programme in EUR nears its end, customers have the alternative of a mortgage loan with small advance payment and without foreign currency risks. Additionally, Erste analyst Juraj Kotian said that the banks which report directly to the Bank for International Settlements (BIS) have reduced the direct financing to Romania by EUR 1.5 bln in total, of which EUR 1.1 bln to banks and EUR 400 M to non-banking institutions.

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