Credit trends have…

Credit trends have changed a lot in the last year, interest in the “New House” program is decreasing, although the mortgage remains the star in the field, but clients prefer fixed interest rates, says Valentin Anghel, general director of AVBS Loan Broker.

“This happens because the Romanians have understood that there are better options at the moment, more precisely the option of the loan with fixed interest. The “New House” program has variable interest, and Romanians are in an economic context where they need predictability when it comes to their finances. Another trend we noticed was the increased interest in personal needs and credit cards,” said Valentin Anghel.

According to the BNR, private lending increased in March by 4.7% compared to the same period in 2023, to a total balance of 387 billion lei, following a 6.4% increase in the lei component and a 1.1% increase in the foreign currency component expressed in lei. In real terms, the balance of non-governmental credit granted by credit institutions decreased by 1.8%. The component in lei decreased by 0.2%, and the foreign currency component expressed in euros increased by 0.7%.

In total, the balance of loans in lei amounts to 267 billion lei, of which 155 billion lei represent loans to the population, increasing by 6.3% compared to the end of March 2023.

In contrast, the population’s foreign currency credits, with a balance of 20 billion lei in March, decreased by 15.4%.

In the period January-March 2024, AVBS brokered mortgage loans worth over 61.5 million lei, compared to 54.1 million lei in the same period last year. Through the “Noua Casa” program, on the other hand, loans worth 511,602 lei were brokered, down by 2.7 million lei.

AVBS Loan Broker is a company with 100% Romanian capital, active in the market since 2007.