Head of BCR: I hope interest rates will start to go down

Non-performing loans are on the rise, as was to be expected, but they are not close to being critical for the BCR, says Dominic Bruynseels, CEO of the largest bank on the market. "However, we have to deal with this problem and help out customers, potentially with loan restructuring. We hav   e around 5,000 retail clients with problems, which I think is a very small number. The depreciation of the RON affected those with mortgage credits, mostly, and we are trying to reduce their instalments," says Bruynseels. The head of the BCR believes the strengthening of the RON over the last few days is a reflection of the positive market response to the conclusion of talks with the IMF - a predictable development, but that the future exchange rate progression will depend on how the economy is managed and on what happens abroad. "There are many things to be done in the economy and it is yet unclear how things will go." As the effects of the package negotiated with the IMF start to be felt, he hopes the interest rates will start to go down "sooner rather than later".
 
Source: zf 2 April 2009