Bankers unhappy with delay in approval of lending norms

The apparently limitless extension of the time that the NBR is taking to approve the lending norms of individuals has caused concern for commercial bankers, who are starting to publicly accuse the distortion of competition in the banking system. Starting this week, one bank has its own norms, according to which it grants credits, even with a zero down payment, while 17 other players are still expecting the approval of the NBR (National Bank of Romania). “It is an incorrect approach. The NBR should ensure fair competition conditions for everyone,” says Steven van Groningen (photo), chairman of Raiffeisen Bank Romania. The Austrians submitted their own lending norms to the NBR, but do not know when they will receive a favourable opinion. “The headquarters of the foreign banks will get involved at a certain point. If we are talking about a distortion of competition, then this is a serious problem,” says van Groningen. Robert Rekkers, general manager of Banca Transilvania, terms the situation as “odd”. “We are not happy with it, but there is nothing we can do. We are trying get our own norms approved as quickly as possible,” Rekkers told ZF. Although Banca Transilvania was among the first players to have submitted its own norms to the NBR, Rekkers is expecting the approval to come as late as in 3 or 4 weeks. BRD-SocGen is hoping to receive the norms within two weeks, “if all goes well”, says Patrick Gelin, chairman of the Board and CEO of the bank.