The nonperforming credits in euro represent more than a fifth of the portfolio of Coface Romania, a company specialized in the recovery of overdue loans.
The debts recorded at credits in euro which were entrusted by the banks to firms specialized in recoveries exploded in the last period.
This year, the gravity of these debts represent 22% from the total, compared to only 7% recorded last year, according to Coface Romania. As value, nonperforming loans in euro continue to be first in the top of the foreign currency loans, while credits in Swiss Francs and US dollars haven't generated important volumes of debts in the portfolio of the firm.
Companies like Coface receive from banks overdue credits portfolios for recovering the debts of these accounts. A part of these loans are passed by banks outside the balance, which means that it has passed an important period since the last installment payment of the respective loan. More, the oldest debt, is the hardest to recover.
The practice of international banks is to sell debt portfolios to specialized firms. This kind of bussines exploded on the local market last year, when 12 credit institutions sold credit portfolios valued at 140 millions euro.
According to the datas released by the National Bank of Romania, the overdue credits which were not taken outside the balance represented 17% of the total. Sent fast to the recoverers
The banks are starting to entrust their overdue credits portfolios faster to the recovering companies. A third of the debts from the Coface portfolio is represented by installments with delays of payment between 30 and 90 days. The major part of the debts are represented by those which recorded delays up to sis months (62.5%).
At the same time, 27% of the installments that were not payed for more than a year - the most numerous delays from this segment are larger than two years, which are representing 21% of the total.
On the other hand, the marker of debt recoveries is growing continuously, advancing with an annual average of 70%, according to the general manager of Coface Romania, Cristian Ionescu. According to him, around 30 specialized agencies are currently present on this market.
The large international players are waiting an even larger development of the market, according to Ionescu.
STATISTIC
Loans for personal needs, leaders at debts
The personal needs credit is the leader of nonperforming loans that are present in the portfolios of the recovering companies. This kind of loan generated 64% of the value of the portfolio at Coface Roamania.
Bearer, credit cards loans, less developed on the local market in the previous years, are generating an increasing debt volume.
The value of this kind of loans reached almost 9%, third times larger compared to the figure recorded in 2006. The number of debts recorded at credit cards are dropping, from over 8%, last year, to 4%, this year.