BRD raises interest for deposits to 7.25%

“Banks realize that they cannot count on funds from mother-companies, and some of these are interested in attracting funds for reimbursing loans with maturity dates in 2009,” said Radu Craciun, Investment Manager of Interamerican Fond de Pensii. Bankers are now battling to attract deposits, instead of granting loans.

Specialists interviewed by Business Standard are recommending the national currency for both deposits and loans, although they admit that a euro loan is presently less expensive than a leu-denominated loan.