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More than 50% of the corporate loans granted in foreign currencies by UniCredit Tiriac since the beginning of the year
More than 50% of the corporate loans granted in foreign currencies by UniCredit Tiriac since the beginning of the year (accounting for both the former HVB Tiriac and UniCredit Romania) were registered directly abroad, because of the cost of the minimum mandatory reserves, says Rasvan Radu, executive chairman of UniCredit Tiriac.
"All the large volumes are (i.e. registered) abroad and this is especially true for investment loans. This is an apparent effect of NBR's policy to maintain a high cost for foreign currency lending granted by domestic banks, whilst, for the most part, major corporate and multinational clients' exposure is already based abroad," Rasvan Radu told ZIARUL FINANCIAR.
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