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The estimates of the head of UniCredit about the number of banks in Romania in 2019

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Romania could get in the euro zone in 2019 with 30 banks in the system, even different players from the present ones, the situation being dependent on the scenario of economic growth taken into account, appreciates the CEO of UniCredit Tiriac Bank Rasvan Radu who sees as necessary an advance of the GDP of a minimum of 5% per year.

‘For 2019 when they estimate that Romania will get in the euro zone if we follow a scenario of economic growth of 5%, the number of banks will not be significantly different from the present. It will be more reduced, probably around 30 banks, not necessarily the same, even if the number will not be different’ Radu stated on Wednesay at the conference ZF Bankers Summit’14.

 

He showed that the situation in the banking system will depend on the scenario of economic growth until the euro zone accession.Thus, in a scenario of economic growth of 5% there will be an increase of the banking assets, but in an advance of the GDP of only 1%, the assets will have a breaking effect,as a result of eliminating the non-performant loans from the bank balance sheets.

 

‘Economic growth of under 2% can be a bad scenario for Romania as they would not allow convergence and the economic development and of the banking market (…) I don’t know if we access the euro zone in 2019 or what exchange rate we will get, but I think it would be good for Romania to access it in 2019, from a strategic point of view, as it was good to access the European Union as it would be good to access the banking union’ the head of UniCredit said.

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