Asociatia Societatilor Financiare - ALB Romania Association of Financial Companies ALB Romania

Conferinta de Presa 23 Septembrie 2010 ALB Press Conference 23rd September 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Hotel Intercontinental Bucuresti

Continut al prezentarii / Content:

Piata IFN la 30 iunie 2010 in cifre consolidate / NBFI market as of end of June 2010 in consolidated figures Leasingul financiar la 30 iunie 2010/ Financial leasing as of end of June 2010 Creditul de consum IFN la 30 iunie 2010 / NBFI consumer credit as of end of June 2010 Diagnosticul scaderii pietei IFN in contextul macroeconomic si al noutatilor legislative / Diagnostic of NBFI market decrease as a consequence of macroeconomic environment and legislative news
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Asociatia Societatilor Financiare - ALB Romania Association of Financial Companies ALB Romania

Piata IFN la 30 iunie 2010 in cifre consolidate/ NBFI market as of end of June 2010 in consolidated figures

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Credite acordate in functie de tipul de activitate / Type of Granted Credits by NBFI's Activity

Leasing financia r/ Financial leasing 65% Alte tipuri de credite/ Other types of credits 25% Ipotecare / Mortgage loans 3% Credit de Consum/ Consumer loans 7%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Credite acordate in functie de apartenenta in Registrele BNR/ Granted Credits based on NBR Registers belonging

Doar in Registrul General/ Only in General Register 8%

Registrul Special / Special Register 92%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Credite neperformante/total credite - Non performing Loans/Total Credits

35,00% 27,76% 30,00% 25,00% 23,21% 20,00% 17,91% 15,00% 12,50% 10,00% 5,00% 0,00% 30 June 2007 30 Sept 2007 31 Dec 2007 31 Mar 2008 30 Jun 2008 30 Sept 2008 31 Dec 2008 31 Mar 2009 30 June 2009 30 Sept 2009 31 Dec 2009 31 Mar 2010 30 June 2010 13,25% 13,78% 13,62% 15,14% 21,57% 27,39% 27,52% 28,50% 29,83%

Credite neperformante/total credite - Non performing Loans/Total Credits

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Asociatia Societatilor Financiare - ALB Romania Association of Financial Companies ALB Romania

Leasingul financiar la 30 iunie 2010/ Financial leasing as of end of June 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Financial Leasing Market Evolution / Evolutia Pietei de Leasing Financiar H1 2006 H1 2010

(000 euro) 1. 0 1. 5 2. 0 2.5 3. 0 3. 5 50 00 00 00 00 00 00 0 .0 . . .0 0 . . . 0 0 0 0 0 00 00 00 00 00 00 0 0

2.943.533

35,62%
2.170.399 2.103.643

-73,61%

46,17%
1.484.822

1.537.173

36,85% -75,89%
776.653 647.378

1.131.779

35,82% 35,96%

60,62%
296.450 56.593 H1 2006 177,54%

476.158

-81,88%
192.512

507.149 152.197

-30% -33% -37% -7%

543.719 338.992 109.320 95.407 H1 2010

157.068

22,57%
H1 2007 H1 2008

-20,94%

117.307 H1 2009

TOTAL

Equipment/Echipamente

Vehicles/Vehicule

Real Estate/Imobiliar

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Romanian Leasing Financial Market Evolution/ Evolutia pietei de leasing financiar din Romania Quarterly Evolution 2007-2010 / Evolutie trimestriala 2007-2010

1.600.000 1.400.000
12% 17%

1.498.823 9%
-5%

1.519.556
-18,60%

1.423.976 1.279.047

1.200.000 1.000.000 000 Euro

1.236.976

9%

1.132.298
-48,49%

1.038.101 800.000

637.145 600.000
-44,10% 420.474

400.000 200.000 0

18%

301.972 356.179
-28% -16%

-5%

24%

300.973

254.769

242.746

Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Romanian Financial Leasing Market - Weight per Good Segment / Piata de Leasing Financiar in Romania - Ponderea segementelor in total finantari H1 2005 H1 2010
81% 76% 71% 71% 65% 62%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

17%

20%

22%

22%

20% 15%

20% 18%

2% H1 2005

4% H1 2006

7% H1 2007

7% H1 2008 Vehicles/Vehicule H1 2009 Real Estate/Imobiliar H1 2010

Equipment/Echipamente

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

10

Romanian Financial Leasing Market Structure by Customer Type/ Piata de leasing financiar din Romania dupa categoria utilizatorului H1 2008 H1 2010

91% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% H1 2008 CORPORATE/ Companii 8% 1%

89%

91%

9% 2%

7% 2%

H1 2009 RETAIL / Retail

H1 2010 PUBLIC / Public

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

11

Romanian Leasing Market Structure by Acquisition Type/ Piata de leasing din Romania dupa tipul achizitiei H1 2008 H1 2010

94% 100% 90% 80% 70% (000 Euro) 60% 50% 40% 30% 20% 10% 0% H1 2008 H1 2009 BRAND NEW / Noi USED / Second Hand H1 2010 6% 14% 21% 86% 79%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

12

Romanian Financial Leasing Market Structure by Type of Lessor/ Piata de leasing financiar din Romania dupa categoria societatilor de leasing H1 2008 H1 2010

70% 60% 50% 40%

63%

61%

64%

28% 30% 20% 10% 0% H1 2008 BANK`S SUBSIDIARES/ Subsidiare banci H1 2009 CAPTIVE/ Captive H1 2010 INDEPENDENT/ Independente 19% 18% 11% 22% 14%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

13

Romanian Financial Leasing Market Structure by Origin/ Piata de leasing financiar din Romania dupa originea bunului H1 2008 H1 2010

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

79% 71%

82%

19% 11% 2%

18% 8% 10%

H1 2008 Domestic RO

H1 2009 Domestic EU Import

H1 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

14

Romanian Financial Leasing Market Structure By Contract Term/ Piata de Leasing Financiar din Romania dupa durata contractului H1 2008 H1 2010
29% 30% 25% 19% 20% (000 euro) 15% 16% 15% 10% 4% 5% 5% 0% 1 YEAR/ 1 an 1 - 2 YEARS/ 1-2 ani 2 - 3 YEARS/ 2-3 ani H1 2009 3 - 4 YEARS/ 3-4 ani H1 2010 4 - 5 YEARS/ 4-5 ani > 5 YEARS/ > 5 ani 4% 2% 4% 9% 24% 20% 20% 28% 26% 22% 23%

30%

H1 2008

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

15

FINANTAREA VEHICULELOR / VEHICLE FINANCING

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

16

Decrease of the vehicle segment at the national level versus in the financial leasing industry, by commercial vehicles and cars

Scaderea segmentului auto la nivel national versus in industria leasingului financiar dupa vehicule comerciale si autoturisme (H1 2009 vs. H1 2010)

National level/ Nivel national: Passenger Cars / Autoturisme : -40.6% Commercial Vehicles / Vehicule Comerciale: -28.0% Financial Leasing Industry / Industria de leasing financiar: Passenger Cars / Autoturisme: -39.1% Commercial Vehicles / Vehicule Comerciale: -32%
40,6% 45,0% 40,0% 35,0% 30,0% 25,0% 20,0% 15,0% 10,0% 5,0% 0,0% La nivel National Passanger Cars / Autoturisme Industria de Leasing Comercial Cars / Vehicule Comerciale 28,0% 39,1% 32,0%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Sursa: Institutul National de Statistica si ALB

17

500.000

1.000.000

1.500.000

2.000.000

2.500.000

0 A ustria (+2 % ) Belg ium (+1 7 % ) C y prus (-1 4 % ) 8 .4 7 8 7 .3 1 3 7 9 .2 3 2 8 9 .0 2 6 5 4 .7 8 2 7 0 .6 8 7 5 .7 2 5 4 .8 5 3 5 2 .0 8 6 6 2 .4 3 6 1 .1 3 1 .3 1 5 1 .2 1 2 .4 3 6 2 .0 5 9 .4 0 5 1 .4 6 8 .7 8 7 9 2 4 .9 5 5 1 .1 0 8 .6 6 2 1 1 3 .6 6 1 9 7 .7 3 2 4 0 .0 6 7 2 1 .6 8 1 1 .2 7 5 1 .9 2 5 4 6 .7 1 1 6 7 .9 3 4 1 .1 3 5 .8 1 9 1 .1 6 8 .0 7 8 Ita ly (+3 % ) La tv ia (-1 5 % ) 3 .1 1 0 2 .6 3 4 Lithua nia (-2 4 % ) 4 .3 1 2 3 .2 7 7 Lux em bo urg (+2 2 % ) 2 4 .3 9 3 2 9 .6 7 7 N o rw a y (+4 8 % ) 4 1 .7 4 7 6 1 .9 6 9 P o la nd (-6 % ) 1 6 9 .8 4 5 1 5 9 .0 0 0 P o rtug a l* (+4 6 % ) 7 3 .0 9 5 1 0 6 .9 9 2 Slo v a kia (-3 5 % ) 4 5 .7 2 8 2 9 .5 2 2 Slo v enia (+1 0 % ) 2 9 .4 4 6 3 2 .4 0 3 Spa in (+4 0 % ) 4 3 2 .9 5 5 6 0 5 .1 5 6 Sw eden (+3 4 % ) 1 0 2 .7 9 4 1 3 8 .0 7 9 Sw itzerla nd* (+7 % ) 1 3 3 .3 9 3 1 4 3 .0 4 6 N etherla nds (+7 % ) C zech R epublic (+1 2 % ) D enm a rk (+2 9 % ) Esto nia (-1 5 % ) F inla nd (+2 0 % ) F ra nce (+7 % ) G erm a ny (-2 9 % ) G rea t Brita in (+2 0 % ) G reece (+2 0 % ) 2 7 3 .2 0 5 3 2 0 .2 0 3 1 6 6 .0 1 7 1 6 9 .6 7 6 H ung a ry (-4 6 % ) Irela nd (+4 5 % ) Jun YtD_09 Icela nd (+5 1 % ) Jun YtD_10

Number of registered vehicles in Europe Numarul de vehicule inmatriculate in Europa. H1 2009 vs. H1 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA Jato

18

2 2 0 .2 6 2 2 7 0 .5 6 8

Number of registered vehicles in Central Europe. Numarul de vehicule inmatriculate in Europa Centrala H1 2009 vs. H1 2010
2.500.000 2.059.405 2.000.000 1.468.787 166.017 169.676 1.500.000 1.000.000 500.000

169.845 159.000

79.232 89.026

133.393 143.046

40.067 21.681

45.728 29.522

0 Austria (+2%) Czech Republic (+12%) Germany (-29%) Hungary (-46%) Poland (-6%) Jun YtD_09 Jun YtD_10 Slovakia (-35%) Slovenia (+10%) Switzerland* (+7%) Romania (-42%)

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Sursa / Source: Jato and APIA

29.446 32.403

62.661 36.636

19

Romanian Financial Leasing Market Vehicle Financing/

Piata de leasing financiar din Romania finantarea vehiculelor

H1 2008 H1 2010

60%

58% 57% 53%

50% 40%

32% 25% 19% 17% 16% 6% 2% 2%

30% 20%

14%

10% 0%

PASSENGERS CARS/ LIGHT CO MMERCIALS / HEAVY CO MMERCIALS/ O THERS/Alte vehicule Autoturisme Vehicule Comerciale Vehicule Comerciale Usoare Grele

H1 2008

H1 2009

H1 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

20

Vehicle Financing by Origin/ Finantarea vehiculelor dupa originea bunului in leasing financiar H1 2008 H1 2010

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

82% 78% 63%

17% 12% 1% H1 2008 Domestic RO H1 2009

25% 8% 14%

H1 2010 Import

Domestic EU

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

21

Vehicle Financing by Acquisition Type/ Finantarea Vehiculelor dupa tipul achizitiei H1 2008 H1 2010

95% 100% 90% 80% 70% (000 Euro) 60% 50% 40% 30% 20% 10% 0% H1 2008 H1 2009 BRAND NEW / Noi USED / Second Hand H1 2010 5% 15% 24% 85% 76%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

22

Vehicle Financing By Contract Term/ Finantarea Vehiculelor dupa durata contractului H1 2008 H1 2010
35% 30% 25% 20% 15% 10% 5% 0% 1 YEAR/ 1 1-2 2-3 3-4 4-5 > 5 YEARS/ an YEARS/ 1-2 YEARS/ 2-3 YEARS/ 3-4 YEARS/ 4-5 > 5 ani ani ani ani ani H1 2008 H1 2009 H1 2010 8% 4% 2% 5% 5% 8% 6% 19% 16% 25% 32% 30% 26% 23% 29% 30%

16% 16%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

23

Finantarea Echipamentelor / Equipment Financing

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

24

Romanian Leasing Market Equipment Financing/

Piata de leasing din Romania finantarea echipamentelor

H1 2009 Vs. H1 2010
Others 24% Construction 22%

Plastics & Rubber 1% Chemical Industry 1% Car S ervice 1% Forklift 2% Agriculture 9% Petroleum & Derivatives 3% Electrical devices 1% Printing & Packaging 2%
Others 34%

Metal processing 8% Food & Beverage 4% Wood processing 3% IT & S oftware 8% Office 3%

Medical 5%

H1 2010
Construction 14% Metal processing 5% Food & Beverage 4% Wood processing 2% Office 1% IT 8%

H1 2009

Plastics & Rubber 1% Chemical Industry 3% Car Service 1% Medical care 8% Printing & Packaging Petroleum & Derivatives 1% 2% Agriculture Electrical devices 13% 1%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

25

Equipment Financing by Origin/ Finantarea echipamentelor dupa originea bunului H1 2008 H1 2010

78% 80% 70% 60% 50% 40% 30% 20% 10% 0% H1 2008 Domestic RO H1 2009 Domestic EU Import H1 2010 5% 6% 27% 25% 18% 4% 68% 69%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

26

Echipamentelor Financing by Acquisition Type/ Finantarea Echipamentelor dupa tipul achizitiei H1 2008 H1 2010

96% 100% 90% 80% 70% (000 Euro) 60% 50% 40% 30% 20% 10% 0% H1 2008 4%

93% 76%

24%

7%

H1 2009 BRAND NEW / Noi USED / Second Hand

H1 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

27

Equipment Financing by Customer Type/ Finantarea Echipamentelor dupa categoria utilizatorului H1 2008 H1 2010
99% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% H1 2008 CORPORATE/ Companii H1 2009 RETAIL / Retail H1 2010 PUBLIC / Public 0% 1% 0% 5% 2% 2% 98% 93%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

28

Equipment Financing By Contract Term/ Finantarea echipamentelor dupa durata contractului H1 2008 H1 2010

35% 30% 25% 25% (000 euro) 20% 15% 10% 5% 0% 2% 3% 3% 11% 19% 16% 23% 19% 24%

32%

33%

24% 22%

20%

7% 11% 6%

1 YEAR/ 1 an 1 - 2 YEARS/ 2 - 3 YEARS/ 3 - 4 YEARS/ 4 - 5 YEARS/ > 5 YEARS/ > 1-2 ani 2-3 ani 3-4 ani 4-5 ani 5 ani H1 2008 H1 2009 H1 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

29

Finantarea Bunurilor Imobiliare / Real- Estate Financing

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

30

Decrease of the real estate segment at the national level versus in the financial leasing industry / Scaderea sectorului imobiliar la nivel national versus scaderea finantarii industriei in leasing
H1 2009 vs. H1 2010
Real Estate decrease at the national level /Scaderea sectorului imobiliar la nivel national: *Total: -15.7% *Residential / Rezidentiale: -34% *Non residential/ Nerezidentiale: -22.4% Real Estate decrease in financial leasing /Scaderea finantarii sectorului imobiliar in leasing: *Total: -37% *Residential / Rezidentiale: -40.43% 38,57% 40,43% *Non residential / Nerezidential: -38.57% 45,00% 37,00%
40,00% 35,00% 30,00% 25,00% 15,70% 20,00% 15,00% 10,00% 5,00% 0,00% Industria de Leasing Total Cladiri nerezidentiale Nivel National Cladiri Rezidentiale 22,40% 34,00%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

Sursa: Institutul National de Statistica si ALB

31

Romanian Financial Leasing Market Real - Estate Financing/

Piata de leasing din Romania - finantarea sectorului imobiliar

H1 2008 H1 2010
70% 60% 50% 39% 40% 30% 20% 10% 0%
INDUSTRIAL / Industriale OFFICE HOTEL / Hoteluri RETAIL OUTLETS RESIDENTIAL/ Rezidential LAND/ Teren

65%

37% 31% 18% 21% 22% 10% 1% 2% 0% 5% 5% 6% 7% 7% 24%

0%

H1 2008

H1 2009

H1 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

32

Real Estate Financing By Contract Term/ Finantarea bunurilor Imobiliare dupa durata contractului H1 2008 H1 2010
100% 90% 80% 70% (000 euro) 60% 50% 40% 30% 20% 10% 0% 1 YEAR/ 1 1 - 2 YEARS/ 2 - 3 YEARS/ 3 - 4 YEARS/ 4 - 5 YEARS/ > 5 YEARS/ an 1-2 ani 2-3 ani 3-4 ani 4-5 ani > 5 ani H1 2008 H1 2009 H1 2010 0% 0% 0% 2% 0% 1% 4% 0% 1% 13% 8% 0% 4% 5% 1% 77% 89%

95%

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

33

Asociatia Societatilor Financiare - ALB Romania The Financial Companies Association ALB Romania

Creditul de consum IFN la 30 iunie 2010/ NBFI consumer credit as of end of June 2010

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

34

ALB Market H1 2010 Consumer Credit by Loan Type /

Creditul de Consum dupa tipul de credit

(000 euro)
4.363 2%

174.213 98%

Consumer credit for personal consumption / Credite destinate consumului personal Credits for Vehicles / Credite auto
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

35

ALB Market H1 2010 New Consumer Credit for Personal Consumption by Loan Type / Creditele noi destinate consumului personal dupa tipul creditului (000 euro)
40.370 23%

88.116 51% 45.727 26%

Personal loans / Imprumuturi de tip nevoi personale Revolving credit Credit at the point of sale/ Credit la POS
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

36

ALB Market H1 2010 Outstanding Consumer Credit for Personal Consumption by Loan Type/

Portofoliul Creditelor destinate consumului personal dupa tipul creditului

(000 euro)

196.437 38%

203.250 40%

112.887 22%

Personal loans / Imprumuturi de tip nevoi personale Revolving credit Credit at the point of sale/ Credit la POS
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

37

ALB Market - H1 2010 Consumer Credit for vehicle acquisition new acquisitions /Credit de Consum pentru achizitia de vehicule vanzari noi
(000 euro)

4.335 99%

28 1%

New Cars / Masini Noi

Used Cars / Masini folosite

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

38

ALB Market - H1 2010 Consumer Credit for vehicle acquisition portfolio/

Credit de Consum pentru achizitia de vehicule portofoliu

(000 euro)

3.566 12%

25.243 88%

New Cars / Masini Noi

Used Cars / Masini folosite

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

39

Asociatia Societatilor Financiare - ALB Romania Association of Financial Companies ALB Romania

Diagnosticul scaderii pietei IFN in contextul macroeconomic si al noutatilor legislative / Diagnostic of NBFI market decrease as a consequence of macroeconomic environment and legislative news

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

40

Diagnosticul scaderii sectorului IFN/ Diagnosis Of The Fall NBFI Sector

S1 2009 vs. S1 2010
Source: I.N.S., Eurostat

Cadrul macroeconomic/ Macroeconomic environment: Cresterea TVA / VAT increase Cresterea ratei somajului la 7.4% / Increase of unemploynment rate up to 7.4% Scaderea puterii de cumparare + scaderea consumului(2,3%) / consumption decrease (-2.3%) & reducing of revenues Declinul puternic al sectoarelor pe care leasingul le finanteaza: imobiliar, auto, servicii / The collapse of the leasing focused economic sectors: real-estate (-12%), automotive (-40%), services (-2.2%) etc. Colectarea deficitara si abuziva a taxelor la bugetul public(TVA, taxe vamale, rovignieta, amenzi) / Incoherent & abusive tax collection practice ( VAT, custom duties,road tax,fines)
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

41

Noutati in Cadrul Legislativ / News of Legal Framework

OUG 50/2010 ref. protectia consumatorului/ Gov.Ord. no.50/2010 regarding the CC agreements: Aplicarea retroactiva / retroactive application: Extra-costuri ale finantatorilor si ale clientilor / Extra-costs for credit institutions and consumers Nerespectarea Constitutiei/textului Directivei si a principiilor dreptului comercial/ No respect for Constitution, EU Directive and commercial principles Incurajarea abuzurilor si a unui comportament nesanatos de plata/ Encouraging abuse and an unhealthy payment behaviour Confera puteri abuzive unei agentii guvernamentale in aria de decizie legala a BNR/ Gives abusive power to a Governmental agency on Central Banks legal framework Codul Fiscal/ Fiscal Code Cresterea costurilor de finantare a achizitiei prin aplicarea TVA marit / Higher financing costs due to an increased VAT Scaderea capacitatii de plata prin cresterea TVA/ Lower payment capacity due to an increased taxation
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

42

Noutati in Cadrul Legislativ/News of Legal Framework

Decizia Curtii Constitutionale no. 458/2009 ref. incuviintarea executarii silite / Constitutional Court Decision no. 458/2009 regarding the consent for the forced execution Numar mare al contractelor in asteptara incuviintarii silite (cca. 9000 dosare) / Increased number of contracts waiting for consent of forced execution (9000 files) Cresterea costurilor de provizionare / Higher provision costs Cresterea costurilor operationale / Increased operational costs for the lenders Incurajarea fraudei si a unui comportament nesanatos de plata/ Encouraging fraud and an unhealthy payment behaviour
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE ALB ROMANIA

43