Banks ready to rediscover the real estate market in CEE
Banking institutions in Central and Eastern Europe (CEE) may soon turn again to look at the real estate market in the countries in the region. Said Herbert Stepic, CEO of Raiffeisen International Bank-Holding AG at the opening of international real estate exhibition Real Vienna, conducted in the Austrian capital with the participation of media Investor.bg.
Stepic stressed that currently there is a vacuum in the financing sector and activity in this regard is expected to increase.
He is now a "perfect time" to proceed to action and funding of relevant projects, since many companies can take advantage of lucrative investment opportunities that the market offers.
"The economy is not dead, just slightly delayed and is now an appropriate time to address the banks of the CEE again," he said.
Stepic said that despite the numerous problems the financial losses in the banking system had not been so large and disastrous as a whole, the banks have sufficient liquidity to ensure the future security of the system.
There are a large number of defaulted loans, but banks prefer to defer them to wait and debtors, but not to write off them, "he said.
He commented that as a result of all this banking business has become more expensive. The price of resources has increased, institutions have become more restrictive and supervision of the banking system has intensified. According Stepic control will continue to strengthen in the future, in the near future can be expected even stricter supervision system and introducing new taxes.
This is the "bitter medicine", which must accept the result of the crisis, but overall we see in the banking system on the market much more positive than in previous years, he said in conclusion.
Published on 2012-05-22 10:17:22
Source: Investor.bg
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