VBAG: Major Losses in Romania

Businessn.a. ♦ Published: February 21, 2013; 23:54 ♦ (Vindobona)

The Romanian subsidiary of Austrian VBAG suffers from non-performing loan. Last year proved to be again a difficult one for the Romanian banking system, Raiffeisen Research states.

VBAG: Major Losses in Romania / Picture: © Wikipedia / MrPanyGoff

First estimate showed losses in the banking system amounting to EUR 476mn equivalent in 2012, which is the largest amount since the beginning of the crisis in 2008. Companies and households failed to strengthen their financial positions in the context of a very modest economic recovery in 2011 and 2012. Non-performing loans (NPLs) remained on a clear upward trend in 2012 (amounting to…