CEC Bank cuts base interest rate for RON and foreign currency loans

CEC Bank will reduce its prime base interest rate for RON and foreign currency loans from the beginning of April. The interest rate for credit in RON will decrease from 11.25 percent annually to 9.9 percent for individual borrowers and from 11.4 percent to 9.9 percent for corporate ones.

The annual base interest rate for EUR loans for both individuals and companies will drop from 7.25 percent to 6.9 percent. All borrowers with credit contracts that involve CEC Bank’s prime rate will see their repayments fall. The lender’s credit portfolio posted an increase of 15 percent last year on 2008, far exceeding the average registered by the banking system. It also posted a 54 percent growth in its assets, based on the increase in deposits attracted from its customers. CEC Bank’s un-audited gross profit rose by about 11 percent on 2008.

Anda Dragan

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