BCR, the largest bank on the market in terms of assets, yesterday increased interest rates on loans in both RON and euros granted to its retail customers. As a result, the cost of loans increased by half a percentage point.
Interests paid on savings will go up too, by 0.8 percent, in February.
Instalments of loans already granted in euros and RON will go up as well, as will those for loans granted from January 21. The only exceptions are loans whose interest rate is revised every six months; they will carry a higher interest rate as of March 31. Banca Comerciala Romana also announced that it will maintain the interest rate level for loans in euros offered with a fixed interest rate for the initial loan period. The bank grants mortgage credits in euros with a fixed interest rate over one or two years.
"The bank has to adjust its interest rates on euro and RON loans to ensure a balanced lending and credit risk policy. The rise in interests on loans is in line with the overall trend of the market," stated Dorin Cojocaru, executive director of the Retail Loan Department of BCR.
For the Camin BCR mortgage loans, the new variable interest rates can reach 13.5% annually in RON and 9.6% yearly in euros, whereas for the MaxiCredit consumer loans, rates amount to 12% annually in RON and 10.1% in euros.
The wave of increases in loan prices could continue this week with a similar announcement expected from BRD-SocGen.
"We too will probably operate interest rate modifications soon. We have already had discussions and could announce new interest rates this week," Sorin Popa, deputy general manager of BRD in charge of retail told ZIARUL FINANCIAR.
He added the bank would thus react to the "tense situation" on the international financial markets. "Lending needs to be granted in RON to avoid the foreign exchange risk that proves it can be an
