Banking Products Development in the Romanian Banking Market

Nicolae Danila
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Nicolae Danila: Academy of Economic Studies, Bucharest

Theoretical and Applied Economics, 2007, vol. 11(516)(supplement), issue 11(516)(supplement), 55-68

Abstract: The Romanian Banking System demonstrated a sustained development over the last years, being prepared to continue its expansion and also proving to be a reliable partner to the real economy both in terms of the proposed financial solutions and the perception of risks incurred by different economic activities during this entire period. Market maturation along with the specific requirements of the retail and corporate customers entailed a developed degree of sophistication of banking products and services. Moreover, the internationalized competition on the Romanian market induced an accelerated integration and leveling of the banking market, also generating higher growth rates compared to other Romanian industries. The Romanian Banking Sector is the main pillar of the financial system. The lately significant focusing of banks on the households resulted in an unprecedented development of retail loans. Nevertheless, in the corporate segment, still dominant in total loans, the competition is also increasing, the banks currently concentrating on the small and medium enterprises. The main features of the Romanian financial and banking sector are it is healthy and operates in a well regulated market. The Romanian Banking Sector was and will be the main pillar of the real integration and convergence of Romania to the European Union.

Keywords: convergence; restructuring; sophistication of banking products and services; competition; financial intermediation. (search for similar items in EconPapers)
Date: 2007
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