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Raiffeisen executive: Credits in foreign currencies - one of the main problems of Romanians and Hungarians

de Radu Rizea
Vineri, 23 ianuarie 2009, 13:28 English | Business

One of the most important problems in Romania and Hungary is the large number of credits in convertible currencies, given the recent depreciation of the two national currencies, the RON and the forint, said Walter Rothensteiner, executive manager of Raiffeisen Zentralbank, according to Reuters. The official also said that the debt clients have in these countries increased proportionally with the depreciation, but that the group agrees to offer a longer return period.

Rothensteiner considers that the following two years will be very difficult for East European countries, but claims that the bank will not leave the region. "It would be a mistake, given the huge potential this zone still has", said the official.

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