Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS


BNR: 3% interest rate increase for credits in lei could significantly affect activity of 57% of companies


An increase of up to 3% of interest rates for lei could significantly affect the activity of 57% of companies, when the high level of taxes, the unpredictability of fiscal environment and competition remain the most important problems faced by companies, according to the opinion poll on access to financing of non financial companies in Romania, published by the National Bank of Romania (BNR).

Robor index for three months, according to which interest rates of most credits in lei are calculated, rose to 2.11%, according to BNR data published on Tuesday.

According to answers to the poll, 40% of companies say that the average interest rate for credits in lei is between 3 and 5%.

“An increase of up to 3% of the interest rate for lei would seriously affect the activity of the company and/or the capacity to pay back the credit among 57% of respondents.

Companies which made credits in euro are mostly financed (46%) at an interest rate between 2% and 4%. In their case, an increase up to 3% of the interest rate for euro would affect 60% of companies with debts in this currency,”the opinion poll shows.

Compared to the previous opinion poll made in MArch 2017, there are important changes for the increase of production costs and the availability of well trained labour force and for drops for the shortage of demand. Most companies interviewed consider they do not need financing from banks or other non banking financial institutions -63%, similar to the level recorded in the previous poll.

“Most companies have expressed their intention to reduce their debts, both in lei and euros (62% and 66% respectively) and would not contract new credits regardless of their costs, on the rise compared to the same period of 2016 (59% and 65%)”, the opinion poll shows.

Referring to credits in lei, 37% of companies which declared they needed financing indicated 2% as the highest interest rate they would use for loans, while 29% of them would accept a credit in lei with maximum interest rate of 4%.

“The highest interest rate acceptable for credits in euro is 1.5% in the case of 41% of companies needing financing, while 21%  would accept interest rates between 1.5 and 3%. The average interest rate for credit sin lei was 3.9% in September 2017. However, only 12% of companies would accept loans with interest rates between 2 and 4%”, the opinion poll shows.

In case of credits in euro. The average interest rate in September 2017 was 2.4%, 9% of companies saying that they would contract loans with interest rates between 1.5 and 3%.