Long-term funding doubles over one year

After having doubled in the past year, long-term credits have considerably increased their share in the total funding granted by banks consolidating their leading positions. At the end of March, the volume of credits granted for terms longer than five years, stood at 48.8 billion RON (14.5 billion euros) witnessing a 99% increase on March 2006. Under the circumstances, funding with long maturities accounts for almost 43% of the total funding granted, against 33% in March last year. Credits with medium maturities climbed by 30% during this period, to 30 billion RON (9 billion euros), according to data from the Credit Information Bureau, a division of the NBR, which collects data on the exposures exceeding 20,000 RON of the banks to one debtor. However, short-term credits, which were dominant at the end of 2005, have seen a rather modest growth rate within the last 12 months. Their volume increased by 38% to 35.3 billion RON (equivalent to 10.5 billion euros). Under the circumstances, their share fell to 31%, from 35% in March last year.