Volume of overdue loans falls to 148m euros in October

The volume of overdue loans cumulated by the population dropped slightly in October- the first correction of the last 13 months. At the end of October, the overall volume of overdue loans stood at 497 million RON (equivalent to 148 million euros), down 1.5% against September. After this correction, the annualised growth rate fell to 94%, from 117% in September and registered the lowest level since April. The peak came in July, when overdue loans registered a 119% increase on the same time last year. In April, the NBR (National Bank of Romania) began to analyse data on the population’s overdue loans from the Credit Bureau, the entity created by commercial banks to administer data. The Credit Bureau covers 97% of the retail market, but also receives information from leasing companies and consumer credit companies, which send data on all overdue payments that exceed one RON.