Deloitte: Romania is the most active in Central and Eastern Europe for non-performing credit portfolios
Romania is the most active market in Central and Eastern Europe (CEE) for non-performing credit portfolios. It is estimated that they will remain the same in 2016, but Slovenia and Croatia are expected to record substantial increases in transaction activities in 2016, according to the Deloitte study Deleveraging Europe 2015-2016. 2016-04-18 17:37:15
When sales of credit portfolios represent a frequent deleveraging method, they continue to be a strategic element for banks. In this context, the non performing credit portfolio markets in the region won ground in 2015, and Romania appears in the regional CEE top with estimated sales from 2.5 billion euros, the study mentions.
Radu Dumitrescu, the financial consulting manager of Deloitte Romania says that Romania is one of the most active countries in the region. "If we compare the volume of non performing credits transactioned in Romania in the last two years with the other countries in the area, we can say that Romania is among the most active countries in the region," Dumitrescu pointed out.
According to the Deloitte study, a number of transactions initiated in Romania at the end of 2015 are still carried out and will represent the key factor influencing market tendencies this year. On the other hand, Deloitte lawyers say that the boost in non performing credit transactions are reflected in the evolution of contract documents used in this type of transactions.
"Although at present we cannot talk about a market standard proper in portfolio transfer contracts, lawyers and financial consultants involved in multiple NPL transactions have developed a set of good practices. This approach is common to other jurisdictions as well, where portfolio transfer contracts tend to be adapted, conceived and negotiated according to the specific of each transaction, taking into account local and international good practices. The approach can be slightly different in transactions by which big individual shares of non performing credits are transferred. These are cases in which the standard developed by Loan Markets Association (LMA) can represent a good starting point to draw up the cession contract," said Andrei Burz-Pinzaru, a Reff&Associates partner, the lawyer firm representing the international law network Deloitte Legal in Romania.
The Deloitte study also shows that in 2015, the most active CEE buyers were Deutsche Bank, Kredyt Inkasso, Kruk and APS. On the other hand, the most active sellers includes Romanian Commercial Bank (BCR), Unicredit Tiriac Bank (Romania) and Piraeus Romania.
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