Crediting standards, more restrictive in Q1

The standards and crediting terms, especially for companies, continued to worsen in Q1, 2009, but at a more moderate pace and the crediting demand fell, according to a poll conducted by the National Bank of Romania (BNR) on the crediting of non¬financial companies and population.

In the sector of non-financial companies, the crediting standards became more restrictive in Q1, however the evolution has slowed down.

The net percentage of the banks, which reported the toughening of crediting norms has reported a slight contraction, however it remains at a high level.

Most banks revised the terms of crediting on the whole. Following the corrections reported by the prices of real estate assets, the requirements of collateral were more attentively scrutinized, whereas the bonuses due to more risky credits were increased.

The risks associated to companies grew, the main sectors targeted from this viewpoint being those of real estate transactions, constructions, transport and tourism.