Bankers sell consumer and mortgage loans cheaper than a yearago, but warn that interest rates will not fall further in thecoming period because a low has already been reached, and inaddition there is a lot of uncertainty on the market.
The annual percentage rate (APR) on RON-denominated consumer loansreached 17% in May compared with 25% in the similar period of 2009,whilst the cost of euro-denominated loans fell to 9.2%, two percentlower than a year before, according to data from the NBR (NationalBank of Romania). The cheapest retail loans continue to beeuro-denominated mortgage loans, where the average APR reached 5.6%after in June last year it had hit a record 11.5%.
Bankers say a low has already been reached and if interest rateadjustments were to occur, they would only be marginal.
Lucian Cojocaru, executive manager of the BRD network's commercialpole, is categorical in his claim that loan interest rates will notfall any further in the coming period.
"Interest rates will stay at their current level or even slightlyrise. They will under no circumstances fall further," Cojocarusaid.
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