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Ana Săbiescu
Romanian Commercial Bank (BCR) cut interest rates for individual fixed interest loans denominated in lei by as much as 3.25 percentage points. Following these drops, interest rates for individual loans in lei given out by BCR start at 14.75% per year.
Ştefan Coroianu, Executive Manager of the Retail Lending division of BCR, explained: "We are cutting the interest rates for individual loans, while also cutting interest rates for corporate loans, which once again sends a strong message that BCR is a market leader".
Last week, BCR cut interest rates for corporate loans denominated in lei by as much as three percentage points, according to interest rate type (fixed, variable or ROBOR-pegged), maturity (short, medium and long term) and customers" risk profile.
Mr. Coroianu added: "We are seeing increased demand for loans lately, and we are convinced that cutting interest rates will further advance this trend in the context of encouraging medium term macroeconomic forecasts>.
BCR further said that the decision for cutting interest rates comes as a result of the recent monetary policy of the NBR, which sets a favorable premise for lending resumption and implicitly for healthy economic recovery.
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