The non-performing loan (NPL) rate in the local banking system, as defined by Romania’s National Bank (BNR), amounted to 9% in June, a level comparable to the end of 2008, when it stood at 8%, said the BNR first deputy governor Florin Georgescu, reports local Profit.ro.

In November 2015, BNR indicated that the NPL rate amounted to 11.65%. In June 2016, the bad loans rate reached 9%, according to data presented by Georgescu. The highest level of non-performance amounted to 22% and was recorded in 2013.

The local banks have given up EUR 8.2 billion worth of bad loans from their portfolios to clean up their balance sheets. Compared to 2008, the overall loan balance in the local banking system remained stable at around EUR 48 billion.

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