Romania Banking Assoc Determined To Back Credit Bureau Activity

The Romanian Banking Association, or ARB, might ask authorities to allow service providers, especially mobile telephony operators, to provide client data to the Bucharest Credit Bureau, ARB president Radu Gratian Ghetea said Wednesday.

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Ghetea thinks service providers must face no restrictions in this respect, stressing they should be active in providing data to the Credit Bureau, especially now when people still need education in this respect.

Bucharest’s Credit Bureau, the only of its kind in Romania, was founded by 25 lenders at the end of 2003 and became operational mid-2004.

By October 2007, the Bureau stored data on the financial behavior of 3.8 million people with over 6 million accounts. The participants in the system of the Credit Bureau consisted of 28 lenders (nearly 98.4% of the retail market), six consumer credit companies, as well as a leasing company and an insurer.

Currently, 18 lenders jointly holding a 56.73% market share, three consumer credit companies and a leasing company, offer positive information.

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