Hello to everyone and have a nice week. The long story of the previous one created a huge impact of emails and comments\u2026 Most of you liked it, so I am preparing for more in the near future\u2026 Today I would like to comment upon some news that I have collected, especially from the banking sector:<\/p>\n
All the loan applications are sent to headquarters!<\/strong><\/p>\n A major bank in Romania, Bancpost, has officially announced that they are not going to approve any loan, not even 1.000 euro, directly from their branches. All the applications will be forwarded to the headquarters and they will be qualified by their specialists, with their system of valuation. So it looks like a major institution with over 200 branches, decides that it does not feel comfortable with the work of its people and for this it has to centralize the whole procedure. (Imagine applications arriving from hundreds of units to few guys at the back office department\u2026 madness\u2026) \u201cYour target for 2009 is\u2026 0\u201d<\/strong><\/p>\n Another bank\u2026 not one of the biggest ones in the market, gave some super difficult targets to its employees. \u201cFor 2009 the target is 0, I don\u2019t want you to give any loan to any new client, you will just focus so as to raise the deposits you have\u201d. More people fired \u2013 more work for the ones who stay I have unofficially crosschecked that another major bank in Romania has started firing people\u2026 in one case I heard they laid off the cleaning ladies and the guards. Also they reduced the personnel of the specific branch by 15% and asked the remaining ones to clean the place and the branch manager to open and close it every day. Renegotiation of rents, savings even in electricity<\/strong><\/p>\n In the centre of the city, in a very well known square, full of bank branches, I just found out that one bank contacted the owner and informed him that either he would cut the (Crazy indeed) rent to half, or he could start searching for another tenant. Surprisingly the owner accepted\u2026 (Between you and me, when you search for an income property to buy, do not look only at the yield. Now it is the time to double check the rental price of the contract as well, because a crazy rent will soon be history, except of course a property situated in a\u00a0 AAA location). \u2026 and some Leasing companies behave badly to loyal clients!<\/strong><\/p>\n It is not the fact that this happened to me, but lately I have received more than sixty serious complains from friends or people I know. I am referring to the Leasing companies, usually belonging to a bank active here in Romania. Of course not all are the same, but it happened to many people to be treated very bad by them, even if they were loyal clients, paying every month all the requested instalments. I do not know what the problem is, but it looks like in some companies the employees think that they do a favour to the client to see his papers and also that delaying two \u2013 three weeks is \u201ctrendy\u201d. I hope that they will not discover very soon what it means to remain unemployed (because several people I know have decided to complain to their bosses and they are sure that this time the bosses will open their ears more than they did in the past). Hello to everyone and have a nice week. The long story of the previous one created a huge impact of emails and comments\u2026 Most of you liked it, so I am preparing for more in the near future\u2026 Today I would like to comment upon some news that I have collected, especially from the banking […]<\/p>\n","protected":false},"author":3,"featured_media":59454,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[216],"tags":[],"_links":{"self":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/306"}],"collection":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/comments?post=306"}],"version-history":[{"count":0,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media\/59454"}],"wp:attachment":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media?parent=306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/categories?post=306"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/tags?post=306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBut wait a minute\u2026 In 2007 and 2008 all banks have paid huge salaries to their employees. For example, now the branch manager usually receives more than his Greek colleague (but the Greek one has plus 10 \u2013 15 years of experience). If all these salaries were paid, it was assumed that the people who received the money were also able to finish their tasks correctly and successfully. If they remain now without authorisation to approve not even 1.000 euro loan, it probably means that they are not considered trustworthy or capable. So, their salaries should also decrease soon\u2026 (Am I wrong in these thoughts? Is there any better explanation?)
\nPS. I used to have the impression that when a bank evaluates an application, it is also evaluating the character of the potential client, so as to have a total overview of the situation. Because especially in long term loans, such as the housing ones, the connection between the bank and the client will last for decades. Looks like that now for most of the banks the personality of the borrower doesn\u2019t matter and all the applications will be treated through the cold procedure of the \u201cpoints system\u201d\u2026\n<\/p>\n
\n(I hope that this time the target will not be very difficult to be reached\u2026)<\/p>\n
\n<\/strong><\/p>\n
\nThe same bank and many more are searching for ways to reduce personnel from all the branches, thus they are implementing new organograms with 10 \u2013 20%\u00a0 less people per branch, exploring their ability to merge tasks and reduce people to the minimum possible. (Anyway, not too much work to be done nowadays\u2026)
\n(Probably now they will also find people willing to work in the new buildings of Pipera, as few months ago the majority of employees did not even want to hear about losing three hours per day in traffic so as work there. Times change\u2026)\n<\/p>\n
\nI heard about four banks so far\u2026 They have given orders to their personnel to switch off all unnecessary lights, sometimes even the sign of the bank in the night. Also in daily basis I hear about new strategies, which will allow to a bank to cut off costs from all possible sources\u2026\n<\/p>\n
\nSuch a pity\u2026 but I hope that people will wake up very fast. Either wise they will be added to the big queue of the bad mannered newly unemployed guys, who complain because they lost their jobs, without to remember how they behaved to their clients (clients = the ones who pay for their salaries) and how they spent their big salaries to stupidities and \u201cfitze\u201d.
\n(I don\u2019t refer to the normal people who lost their jobs; I understand and care about them a lot, trying to help any time this is possible).<\/p>\n","protected":false},"excerpt":{"rendered":"