“We will most likely increase interest rates on loans by 0.5 percentage points,” Radu Gratian Ghetea, President of CEC Bank, told Business Standard.
Piraeus Bank Romania revised interest rates for only a portion of its personal loans, ranging from 1.65 and 2.20 percentage points for lei-denominated loans and 0.9 and 1.55 percentage points for foreign currency loans.
ING Bank raised interest rates by one percentage point on three of its loans.
Volksbank Romania increased interest rates by 0.75 percentage points for older Swiss franc-denominated loans and new euro loans.
UniCredit Tiriac Bank raised interest rates only for new loans, by 4 percentage points for euro-denominated loans and 5 percentage points for loans in lei.
Annual interest rates vary between 12.8-20 percent for euro consumer loans, 8.9-14 percent for euro-denominated mortgages, and 10.7-24 percent for lei loans.
Higher interest rates for lei-denominated loans are due to a significant fluctuation of the ROBOR index compared to the moment when the loans were granted. Adjustments for foreign currency loans were determined by a global rise in financing costs for all lenders operating in Romania, considering a low level of liquidity on the international market.
