Dănilă, NBR: Banks need to support Romanian companies

Bankers need to get involved and support Romanian companies with viable businesses in order to help the economy recover, says Nicolae Dănilă, a member of the Board of Directors of the NBR (National Bank of Romania) and former chief executive of BCR, the biggest local bank.
He adds old loans are no longer renewed and new ones are no longer granted, and that this freeze can lead to a systemic risk, if companies are stifled by the lack of funding, as well as by the lack of demand for their goods and services.
“We are talking about ways out of the crisis and about rebooting economic activity, and banks need to have a say in this. I call for the banking system to have a proactive approach, to reconsider lending and how it can restart it. Loans are not renewed and new ones are not granted,” said Dănilă, 59. He boasts a 33-year career as a commercial banker, one of the most impressive in the Romanian banking system.
“We have to build a clear segment for portfolios of Romanian companies, see which ones are viable, have a management, and a market. How can we rebuild trust in the banking system if we neglect companies able to create jobs?,” Dănilă added.