UniCredit sees lending bouncing back as of Q1 2010

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We see corporate lending bouncing back in Q1 2010, followed by a revival of retail lending starting with the second half of next year, Petrisor Costin, retail sales manager with UniCredit Tiriac Bank, one of the largest credit institutions on the market, told daily Ziarul financiar.

Corporate and retail loans fell in the first half of this year by 9.1 billion lei to a low of 198.8 billion lei (some 47 billion euros), given that the amount of new financing was not enough to keep up with repayments.
Unemployment and the worsening of the companies’ financial indicators raised hurdles to the population and companies’ access to the banks’ money. Despite interest rate cuts in the second half of the year, the lending market remained frozen.

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