The nonbank lending sector in the third quarter of this year released loans to the value of 2.9 billion lei, down 6.2% compared with the corresponding period last year. In the period, the sector provided loans to over 430,300 persons. The average value of a nonbank loan was 32,800 lei, IPN reports.
The National Commission for Financial Markets said that among the reasons that led to the decline was the coming into force of the regulations cornering the responsible lending obligations applying to nonbank lending institutions that took effect on September 1, 2022. The document defines the criteria for assessing the creditworthiness of clients so as to avoid the over-indebtedness of these.
By the sector structure of the provided loans, 0.2 billion lei was provided by savings and loan associations (-10.25%), while 2.7 billion lei – by nonbank lending organizations (-5.9%).
The nonperforming loans (for periods larger than 90 days) in the sector of nonbank lending organizations represented 12.5%, down 1.6 percentage points, while in the sector of savings and loan associations – 7.7%, up 1.6 percentage points compared with the third quarter of 2021.
On October 1, 2022, the Register of accredited nonbank lending organizations included 131 organizations authorized to perform nonbank lending activities and 33 suspended organizations. Also, 223 savings and loan associations held a license allowing conducting professional activities.
