Romania's banking industry has some of the best solvency indicators in Europe, well above the EU average, but on the other hand, Romania is bringing up the rear as far as financial intermediation is concerned, executive president of the Romanian Banks Association (ARB) Florin Danescu told the "Banking Forum" conference on Monday.
"The Romanian banking industry's solvency, liquidity, coverage, loan loss provision indicators are among the best in Europe, far above the European average, yet (...) if we look at financial intermediation, we see that we are still in the last place, at 24% compared to the European average of 90%. On the one hand, the perception is that we lend very expensively, but then we are ranked 20th out of 24 by the banking industry returns," said Danescu, adding that the banking industry is overtaxed in comparison to other industries.
The ARB head remarked that the banking industry has been, for decades, the biggest financier of the Romanian economy, noting also that due to the professional requirements for objectivity, seriousness and rationality, the bankers' messages are more subdued than those of the authorities, and that one should also keep in mind that "a negative message from us affects Romanian economy, the country's risk rating, it translates into the interest rates, etc."
The publication Financial Intelligence organized on Monday the fifth edition of the "Banking Forum", an event attended by representatives of the authorities and of the banking system.
AGERPRES National News Agency is media partner of the event.
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