This banking product recorded the most important demand in the first three months.
From all the kinds of credits granted to the population, the demand for credit cards recorded the most important growth in the first trimester of 2008, it is shown in the results of a poll made by the Romanian National Bank (BNR) among the largest banks from the local market. Loans made for consume financings are dominating the loans for the populations.
In the first three months, the demand for consume credits has refreshed, after it had dropped in the last three months of 2007. The value of consume loans raised in the last three months of 2007 with almost 10%, to almost 60.4 billions lei. The banking officials were expecting the demand for consume credits to stay high in the second trimester of the year. What brings the bearer credit
The main advantage is that the owner has unlimited access to the approved credit. Other perks: grace period which could reach 60 days for sums spent with the retailers, bonuses in points or reductions at certain shops, restaurants. This is the list with the main benefits that are brought by a standard credit card.
Credit cards are released by banks or non-banking financial institutions, or by these together with other organizations - hypermarkets, large chains of shops. The banks are emitting gold credit cards, destined for clients with high earnings.
These include nany benefits: inssurances, speedy card replacement even if it is lost in a foreign country, or free flower or flower arrangements deliveries in the country. At the same time, "the price" matches the benefits. Annual interests perceived now for the credit cards emitted in lei starts at 20%. The effective costs perceived by banks for the consume credits are lower, starting from 14%. EFFECTS BNR: the extern crisis has its benefits
The international financial crisis didn't had a negative impact, until now, in Romania, which could even benefit from this situation by diminishing the credit expansion, said, yesterday, the BNR governor, Mugur Isarescu.
"Until now, I am tempted to say that the impact of the international financial crisis was a positive one, because on the long term the credit expansion could be diminished", said Isarescu. One of BNR's major concerns is the increase speed of the credits volume. ADVANCE Gross Domestic Product, over estimations
"If you want a higher speed, you don't force an engine who can't go any faster, because you only gat more smoke", compared yesterday the BNR governor, Mugur Isarescu, the GDP advance with the functioning of an engine. He said that it's a risk that the advance of the economy for this year to surpass the estimations, but he said that it should rely on the growth of productivity. In the first trimester, the GDP increased with 8.2%, surpassing the estimations.
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