Romania lender BCR has received refinancing request of EUR 25 million in the last six weeks since starting to promote refinancing products and will extend the period for the refinancing offers, the bank has announced. The average value of a refinancing loan is of EUR 30,000, while the number of clients who refinance a loan without guarantees with a mortgage loan has increased, according to BCR.

The Smart refinancing products offered by BCR will be available until August 12. “We see signs of revival for demand for loans. The clients make a rational calculation and choose the offers which bring a smaller total cost and smaller monthly installments. The volume of demand for the Smart loan was double than we had expected,” said Stefan Coroianu, director for retail products with BCR.

Demand for loans with the First House 4 state-backed program was high for BCR, which has granted EUR 150 million of mortgage loans since the start of the First House 4 program this year.

BCR, majority owned by Austrian Erste, ranks first in Romania based on assets, with EUR 16 billion.

editor@romania-insider.com

(Photo source: Sxc.hu)