BUSINESS

Q1 exposure of foreign banks on Romania was minus USD 3.3 billion

According to data provided by the Bank for International Settlements, foreign banks’ exposure on the Romanian market dropped by approximately 3.3 billion US dollars in the first three months of this year to 46.44 billion US dollars, thus reaching a value almost 25 billion dollars below the maximum level reached at the end of 2008, Mediafax notes. The data refer to externally financed assets, which include loans granted to companies, banks and state institutions by foreign banks, bonds and the financing of local subsidiaries of foreign financial institutions. Thus, external financing of the Romanian economy has dropped from 49.8 billion US dollars since the end of last year to 46.44 billion US dollars at the end of March. The decline reported in the first quarter of this year was particularly noticeable in the banking sector, considering that externally financed assets in the non-banking sector have dropped by only 500 million US dollars, from 19.7 million dollars to 19.2 million dollars.  The balance of credits granted to Romanian institutions by foreign banks dropped to approximately 4 billion dollars in the first quarter, from 41.4 billion US dollars to 37.5 billion US dollars. The credit balance in the non-banking sector dropped from 15.2 billion dollars to 16.25 billion dollars.

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