The price of a euro loan contracted in January 2009 could be 2% higher than its current level, because banks will not be able to increase commissions for the loan’s duration, and because foreign lenders are raising costs for the local banks, the Business Standard reads on December 8.
“The interest rates for euro loans will continue increasing, and those for mortgages and consumer loans will not drop below an annual 9.5% from 14.5%,” Banca Comerciala Romana (BCR) Chief Executive Officer of the Business Development and Retail Products Division Sorin Mititelu told the Business Standard.
Considering banks will be prohibited from raising commissions as of Jan 1, 2009, they will increase the interest for loans, as they must cover the risk associated with variable market conditions throughout the lending period, the newspaper concluded.
Considering banks will be prohibited from raising commissions as of Jan 1, 2009, they will increase the interest for loans, as they must cover the risk associated with variable market conditions throughout the lending period, the newspaper concluded.
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