The tempering down of the growth rate is also backed by a correction in backlog dues that hit 703 million lei (193 million euro) in June, down from the 707 million lei (195 million euros) registered the month before.
"Whereas the backlog repayments on mortgage credits tend to zero, consumer credits are the trouble makers and I am referring to unsecured consumer loans in lei. Mortgage credits rely on foreign currency and they do not cause big trouble to the banks," said Lucian Anghel.
If a person has difficulties reimbursing a loan, he will also have problems with the credit cards or other products, it is a contagion effect," explained the BCR head economist.
Credits taken out of the banks' balance sheet – which are thus classified as non-recoverable – account for more than 15%.