The ever rising pressure of drawing financing which would allow them to continue the crediting prompted local banks to resort to ever more sophisticated mechanisms, through which they draw term deposits in lei from shareholders from abroad. The balance of the deposits grew almost 6 fold at the end of 2006 until June, when it reached a historic high of 5.94 billion euros.
Locally, the loans granted by banks to customers exceed drawn deposits by 10.6 billion euros.
Therefore, local players are strongly dependent on the financing drawn from abroad.
Deposits on the medium and long-term of non-residents accounted for 16% in July from the private external debt worth 36.8% billion euros. At the end of July, the overall foreign debt on the medium and long-term was of 45.3 billion euros, up almost 18% as against late last year.