Banks' bad debts portfolio exceeds 17% - NBM president Dorin Dragutanu
The indicator of bad loans in Moldovan bank system constitutes 17.4%, while it equaled 16.3% at the beginning of the year.
Citing National Bank of Moldova (NBM) President's interview to a local newspaper, last year, bad loans' indicator was only 10%.
"The quantity of problematic credits has almost doubled during a year. This picture represents economy's thermometer: enterprises and population cannot return the loans because business do not bring the returns they counted on when took the credits", said NBM president.
According to him, 17% is almost twice less than in Ukraine, and less than in Romania where the indicator equals 19%.
"The growth of bad loans in Moldova is generated by a surge of awareness of global economic problems by banks. When banks understood the situation is getting worse, they started increasing the interest rates. While clients, that up to then could fined money for returning the leans, could not longer do it in this situation", said Dragutanu.
According to him, 17% does not mean that all credits are lost. They just do not work like specified in the contract.
"These debts are delays in paying interest and the main credits", stressed central bank's president, supposing that the growth of bad debts will stop.
"The growth trend is slowing down, there are no leaps of 2-3% per month as it was in 2009. Moreover, that demand on credits will increase. The banks have loaned twice more in the first quarter of 2009 than in the same period of 2008", said Dragutanu, who is glad that enterprises started asking for more money and banks started to loan them out, which is a sign of economy's revitalization.
Infotag
Comments