Romanian Banks Need $887 Million More Provisions, ZF Says

Romanian banks will be obliged to make provisions of about 3 billion lei ($887 million) next year to cover a difference from the re-evaluation of assets pledged as collateral for loans, Ziarul Financiar said.

The increase in provisions will probably prompt some banks to boost their capital, the Bucharest-based newspaper reported, citing unidentified people from the banking industry.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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