Banks in Romania, Hungary and Bulgaria are most vulnerable in Eastern Europe to a new crisis, as the number of credits that do not perform is still high and the economic growth loaw, Fitch director Michael Steinbarth declared, quoted by Bloomberg.
Banks are not doing well in Romania, HUngary and Bulgaria, Steinbarth said. Generally, banks in Eastern Europe, including
Unicredit, Erste Bank and Societe Generale made efforts to restructure credits during the economic crisis. Moreover, Romanian and Bulgarian banks risk to be influenced by the crisis in Greece since in Romania 12% of the banks are controlled by Greeks.
In Romania, efforts to decrease the budgetary deficit in the next year will decrease the economic growth, Steinbarth said. He added that the Romanian executive decreased jobs and salaries in the budgetary system.