Domenia to become mortgage bank

Domenia Credit, a mortgage credit company, intends to become a mortgage credit bank as soon as the legal framework required for the operation of these types of institutions is brought into force by the authorities. “Turning into a credit institution will help diminish risks of funding by deposits, which are used by commercial banks in Romania at the moment. We don’t want to become a commercial bank, but are ready to turn into a mortgage credit bank,” Carmen Retegan, Domenia Credit’s chief executive, told ZF Transilvania. She added that representatives of the company had participated in the drafting of the legislation that includes the modification of laws on mortgage credits and bonds, securitisation of receivables and establishing mortgage banks. “The NBR, CNVM (National Securities Commission) and Ministry of Justice have endorsed it. We are now waiting for it to be passed by Parliament in the next two to three months,” added the Domenia Credit chief executive. ZF