ING: Loan refinancing is an open door and it will stay like that

Changes brought last year to lending laws have left behind much more careful, alert and demanding clients and we will no longer see anybody feeling captive in the relationship with a bank or not moving rapidly to rival banks if dissatisfied with services, says Maria Cristina Matei, deputy general manager for retail with ING Bank Romania.

Despite tightening competition amid the new market conditions, the head of ING retail does not believe there will be a significant narrowing down of margins for mortgages. “I do not think there is much room for narrowing for the other types of loans, either. 2011 is another year when the cost of bad loans is playing a major role”.