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March 5, 2021

BNR: Banks tighten lending standards for retail mortgage loans in Q1

Banks tightened lending standards for retail mortgage loans in Q1 of this year, and this trend will continue also in Q2 of this year, shows the Survey on lending to non-financial companies and population, released on Monday by the National Bank of Romania (BNR).
‘In Q1 2016, the lending standards of the loans for buying homes and land were tightened significantly, while in the case of consumer loans and of loans related to non-financial companies, these remained constant,’ mentions the BNR survey.
For Q2 of this year, banks estimate even tighter lending conditions for mortgage loans and, to a lesser extent, for retail consumer loans.
At the same time, at the level of non-financial companies, local banks forecast keeping lending standards constant over the next three months.
However, the demand for loans rose in Q1 2016, both in the case of non-financial companies, as well as in the case of retail mortgages, while the demand for consumer loans remained relatively steady.
At the same time, the BNR data also show that the share of retail loans denied by credit institutions was moderately lower in the case of consumer loans and moderately higher in the case of loans for the purchase of homes and land, compared to the previous quarter.

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