Ghetea: Private Lending Will Recover In H2

05.19.2011 By Florentina Dragu

Romanian private lending is poised to pick up in the second half of 2011, albeit at a slower pace compared with pre-crisis levels, said Radu Ghetea, head of Romanian Banking Association.

"We're out of the recession. Everyone agrees that we will witness (economic) growth, which will increase economic stability… I think the appetite for consumption will return," Ghetea told a seminar organized by Ziarul Financiar Thursday.

"I don't want you to think it will be a return to pre-crisis levels, but I believe the lending will recover," he added.

Ghetea said the first mortgage loans of 2011 through the government-guaranteed First Home program should be available in the next three to four weeks, once the latest banking regulations are in place.