Grupul Roman pentru Investitii si Consultanta IFN (RGIC) SA operates in the non-bank financial market since 2007, offering to its customers guarantees of financial leasing and financing. One of the features of the company policy is the communication with its customers and partners starting from the belief that a colaborative relationship in professional standards must be based on a constant and sustained communication.
In this respect, the Department of Financial Leasing and Financing Lines of the institution produced a Report on developments and features of the non-bank financial institutions in Romania. The report provides an overview of the evolution of the National legislative framework regarding the non-bank financial institutions, the organization and specific prudential requierments, statistic data on the situation of the institutions in Romania and prospects for 2010.
The Report shows that the financial leasing reached a share of 80% in total loans granted by the non-bank financial leasing. “In terms of the organization, the most of leasing companies, respectively 95% associated in the Association of Financial Companies- ALB, 3% are found in the Association of Leasing Companies in Romania (ASRL), and 2% of the profile players are non-affiliated. From the Report on the financial stability 2009 published by BNR shows that the net assets of the non-bank financial institutes evolved from 3,6% of GDP IN 2004 to 8,4% of GDP in 2008. Non-bank financial institutions along with the loan institutions own the most of the total assets in Romania, according to BNR data, the situation in 2008 being: 11,18% non-bank financial institution and 82,76% credit institutions.”
In the Report “Developments and features of the non-bank financial institutions in Romania” is showed that in the last time the NFIs faced with a growing credit risk: “the worsening conditions in the real economy, domestic currency depreciation and the increase of the interest rates led to deterioration of the loan portfolio, migrating towards less efficient classification categories. In case of financial leasing increased the volume of repossessed goods, with serious consequences on full recovery of capital. [...] At leasing companies level there were significant increases of capital, were revised business strategies, with emphasis on identifying elements that provide business support, developing the debt collection activities, remarketing and clearing non-performing portfolio.”
The Report "Developments and features of the non-bank financial institutions in Romania" can be regarded both as a information source and working tool, being useful both for the RGIC IFN customers and analysts interested in the specifics of this segment of the financial market.