UniCredit Tiriac Bank Sees Romanian NPLs At 20% In 2010

Romanian non-performing loans are likely to reach 20% of the total lending in 2010, according to estimates from UniCredit Tiriac bank.

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"It's clear the level of NPLs has grown significantly. The forecast for 2010 shows NPLs reaching 20% of the overall lending," said Zoltan Major, vice-president of UniCredit Tiriac Bank.

Speaking at an economic seminar, Zoltan said local lenders have started adjusting to the new market conditions following the global downturn and they monitor their portfolios more closely.

Romanian overdue loans rose 6.9% on the month to 14.36 billion lei (EUR1=RON4.2807) in August, equal to 6.86% of the total lending, central bank data show.

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