Next year will bring the first break in banks’ territorial network expansion, after growing by 1,000 branches per year for several years. Bankers are talking cautiously about their future plans, but the common denominator is cost cutting, which could even mean eliminating jobs. The change of focus, from lending to attracting deposits will become even more obvious next year, after this autumn has already brought more promotions for savings rather than lending products. So far, local bankers have relied on the money made available by the shareholders, so their only concern has been selling as many loans as possible, while attracting resources from the local market has become a secondary concern. Consequently, the overall loans granted by banks to the private sector have come to exceed deposits attracted by over 10 billion euros. However, the international context changed dramatically this autumn, with cash becoming much more expensive and much harder to gain access to, both internationally and on the Romanian market. “In terms of retail products, we are now focusing on deposits. Our continuing to grant credits in significant volumes will be decisively dependent on two factors: on the one hand, the capacity to ensure the necessary resources with the appropriate maturities, and, on the other hand, to clarify the re-pricing,” says Mihai Bogza, president of Bancpost’s Board of Directors.

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