English
The National Bank of Romania (BNR) has validated the internal lending norms of Transilvania Bank, which allow customers to owe between 45% and 70% of their net income. In addition to the income, the bank will consider a default factor specific to every customer.
Customers having a monthly income of less than 500 EUR per family will be able to owe up to 55% of their income, whereas those with incomes of more than 2,000 EUR per family will be able to owe up to 70% of their income. As for the mortgage loans, the bank lowered the minimum mandatory down payment from 25% to 15% and is currently working on renouncing the down payment completely.
Besides Transilvania Bank, only BRD accepts a monthly debt level of up to 70% of the income, with other banks setting the cap at 65% maximum. Transilvania Bank is the fifth largest bank in Romania in terms of Y2006 assets, having a market share of 4.69%. The bank is listed on the Bucharest Stock Exchange as TLV.
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