News » March, 2011 » 4 March 2011
Bankers turn unsecured consumer loans into mortgages
04.03.2011, 09:45 | Finance-Banks | 800 views
Bankers last year started a sterile war of refinancing deals, whose only outcome was improved coverage with guarantees, as many consumer loans were bundled into larger mortgage loans, but no additional sums were pumped toward clients. Unsecured consumer loans were the hardest hit by the lending freeze and registered a two-digit drop, while mortgages were upheld by sales of state-guaranteed loans. The volume of loans granted to individuals dropped by 5.6% in real terms last year and reached 102bn lei (around 24m euros) in late December and the decline was steeper against a decrease of just 3.6% in 2009. Read more on ZF.ro
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