Romanias Banking Sector to Thrive Through 2019, Fueled by Strong Economy
Summary
Warszawa, Poland, August 13, 2017 --( Romania has the 4th largest banking sector in the CEE with nearly € 87 billion in total assets and a 7.5% regional share.+48 22 349 21 40 Warszawa, Poland, August 13, 2017 --( PR.com )-- Romanian economy has accelerated in 2016 with Gross Domestic Product (GDP) advancing at 4.8 % annual rate.The key driver of the growth was private consumption fueled by lower taxes, surging wages and falling unemployment.The consumer price index (CPI) rebounded from a negative territory in 2016 to +0.7% YoY in June 2017 and it remains on an ascending path.Romania has the 4th largest banking sector in the CEE with nearly € 87 billion in total assets and a 7.5% regional share.Banking sector has also made a significant progress in reducing currency risk as the share of outstanding loans denominated in foreign currency has fallen substantially, in particular in case of corporate and mortgage loans.In the mid-term, a fast growth in wages and falling unemployment will support increases in banking volumes, in particular within retail segment.