Central bank criticizes CEC Bank and Eximbank for their lending conditions

Exporters are having a hard time getting loans, general secretary of the association representing them ANEIR, Mihai Ionescu said. The central bank BNR has released more money on the market after renouncing the setting up of minimum mandatory reserves maturing in more than two years, he said, but lending is still clogged.

Exporters asked BNR to revise the lending conditions imposed to banks, especially those regarding guarantees, Ionescu said, criticizing the bureaucracy at the two state lenders CEC Bank and Eximbank which should support businessmen.

The representative of the businessmen association AOAR, general secretary Cristian Parvan, also complained that the two state-run lenders focus more on making profit than on sustaining the economy.

What’s more, exporters also cried out, through the voice of their representative, over the high level of the exchange rate, asking that it be kept a 3.6-3.8 lei/euro level.

Both businessmen and exporters concluded another meeting with the central bank is needed next month.

Exports and businesses in Romania were faced with sharp declines in the past months under the burden of the economic crisis.

Also, lending became a burden for companies in the country after costs rose and banks got reticent in granting out money. The reason behind the reticence is the central bank’s new set of crediting norms intended to reduce risks. However, when this new rules entered into force in October last year, the first buds of the economic crisis showed in Romania, plaguing liquidities with banks.

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