BCR president Bruynseels: There is crisis globally, but Romania feels it less

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Executive president of the Romanian Commercial Bank BCR Dominic Bruynseels says the Romanian banking system is solid, in spite of the global economic crisis.

If we look globally, there is a real crisis. If we speak individually about Romania, we can say we have a solid banking system. The IMF loan has boosted the investors’ confidence and the chances to resume the direct foreign investments are high, Bruynseels told an informal meeting with the reporters.

The predictability and stability are very important at this moment and in case the confidence returns to the market, the banks will resume lending, he added.

What we should do now is to increase the degree of understanding of what it means to borrow. BCR should not be perceived as a loan shop and the people should understand that.

A lesson we learned from the crisis is that the consumer economy is not an exclusive solution, the BCR executive president said with respect to the bad loans.
Bad loans cut the BCR profit in this first quarter-year.

The bank made net profit of 330 million lei, down 13 percent on the same period a year ago.
The cut was the result of the higher costs related to provisions and of curbed demand.

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