Consumer credits taken out by the Romanian population in RON went up to a level equivalent to 10.3 billion euros, a 36% increase on July last year, according to data from the NBR (National Bank of Romania), Ziarul Financiar reported.While overall there is a slowdown in the credit growth rate, consumer loans taken out by the population in RON jumped significantly in July. In fact, the 3.4% growth rate in July was the most accelerated rate this year, followed by the April rate, of 2.5%.The annualized growth was also above the one calculated in the previous month, but lower than in the first few months of the year. However, all the other categories of credit saw a slowdown. Data points to a slowdown in lending, and a significant slowdown is expected over the next few months.This is primarily due to the base effect, the volume of credits granted by banks is much higher than last year. From a 56% credit growth rate, I expect we will reach 40% by the end of the year, said Ionut Dumitru, head of Raiffeisen Bank's research department.Source: Profit.bg
Tuesday, September 16, 2008
Bulgaria attracts 150 000 Romanian tourists in summer 2008
About 150 000 Romanians came to Bulgaria for their vacation in the summer of 2008, according to data published in the Romanian press.The total number of Romanians who went abroad for a summer holiday in 2008 is 700 000. Greece remains the most popular destination for them with over 250 000 Romanian tourists.The number of Romanians who visited Turkey over the summer registers the highest growth. Romania's Black Sea coast was visited by 100 000 foreigners in summer 2008.Source: News.bg
Assets of Bulgarian REITs Up by 67% in One Year
The assets of Bulgarian real estate investment trusts (REIT) amounted to 1.54 bln leva as at the end of the second quarter of 2008, up by 67.3% year on year, data of the Financial Supervision Commission (FSC) show. It should be taken into consideration that a total of 68 REITs were included in FSC's statistical data for 2008, compared to 47 a year earlier.The combined assets of REIT's rose by 7.68% in the second quarter of 2008, compared to the first three months of the year. The REIT's managed 1.43 bln leva assets as at the end of March 2008.A total 56 of the REITs invest in real estate properties other than arable land. They managed assets for 925.78 mln leva as at the end of June 2008.Their assets amounted to 512.22 mln leva a year earlier and stood at 857.93 mln leva as at the end of the first quarter of 2008.FairPlay Properties REIT (114.13 mln leva), Serdika Properties REIT (80.69 mln leva) and Arco Twoers REIT (80.53 mln leva) are the three biggest companies in terms of assets. The last two, however, are not traded on the Bulgarian Stock Exchange (BSE).The six REITs specializing in the securitization of arable land managed assets for 532.4 mln leva as at the end of the first half of 2008.The assets of the six REITs stood at 300.41 mln leva a year earlier and at 482.52 mln leva as at the end of March 2008.The three biggest funds in terms of assets in this group are Bulgarian Real Estate Fund REIT (183.43 mln leva), Elana Agricultural Land Opportunity Fund (153.56 mln leva) and Advance Terrafund REIT (102.35 mln leva).The REIT specializing in the securitization of receivables rank third. Their number has increased from 7 to 9 in one year, while the value of their assets has gone down from 95.38 mln leva as at the end of June 2007 to 77.36 mln leva a year later. The assets of these REIT's totaled 85.6 mln leva in the first quarter of 2008.The top three REIT's in this group in terms of assets are Capital Management REIT (48.36 mln leva), Transinvestment REIT (15.33 mln leva) и Energetics & Energy Savings Fund SPV-Sofia (7.28 mln leva).Source: Profit.bg
