The gap between the interests charged by banks for loans in RON,14-19% per annum and the key rate of the National Bank, 8%, ishuge, Governor Mugur Isarescu said. This is the first time he hasever criticised banks openly for their too high interests. Bankers,however, continue to say that interests cannot go down unlessstimulated by the NBR.
"The interests are still very high. This is an invitation tocommercial banks to lower their interests. I saw some of myhonourable colleagues telling newspapers that they would no longercut interests because we did not do it, either. There is a huge gapfrom 14-19% they charge to the normal level," Isarescu said onFriday during the conference where the Third Quarter InflationReport was presented.
The Governor explained that the active interests (charged by banksfrom customers for loans granted i.e.) should be one to threepercent above the key rate. Therefore starting from NBR's 8% perannum, the interests on loans in RON granted to customers shouldnot go beyond 11% per annum. As for deposits, interests should bebelow NBR's key rate. "This should be the normal situation.Unfortunately, we are not there yet. It's just what I've noticedand I will say that we cannot act using anything other than marketinstruments. We are still at a stage when banks are seeing highrisks, uncertainty, political uncertainty included. "
The average interest for new loans granted to individuals stood atalmost 18% per annum. In case of companies, the average interestreached 15.69% per annum, according to the latest NBR data.
Bankers, however, say that given the current circumstances, theycannot lower rates.
"The banks had already cut interest rates in various stages, andthe key rate has not changed. I don't see any interest cuts anytime soon because the conditions are not right for it. The riskremains high and banks have to think of covering it," says PetreBunescu, deputy general manager in charge of risk management atBRD-SocGen.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
