November 22, 2017

Average Bank Rate On New Loans Rose To 11.7% In The Second Month Of The Year

Central bank data showed Wednesday that Romanian average banking interest on new loans in national currency leu rose by 1.58 points to 11.7% in February. The rise is due to increased rates for new corporate lending. Bank rates for new corporate loans went up 1.9 points on the month to 11.16%, the highest level since July 2010. Bank rates for new household loans increased by 1 point to the highest rate in nearly one year at 13.49%, the data showed. The effective annual rate (EAR) on leu-denominated consumer loans stood at 17.8% in February, up from 17.5% in January. The EAR on mortgage loans fell to 10.5%, from 10.9% in the previous month.

Source of the news: Mediafax () college paper writer

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