ABN Amro Romania is to launch a ROL-denominated consumer loan with a 13-14% interest rate within two months, said Haris Hanif, chief executive of the bank's consumer banking division.
"We intend to launch a ROL-denominated consumer loan in six to eight weeks with an interest rate of 13-14%. We are also considering introducing a housing loan that will most likely be offered in euros," Hanif added.
ABN currently offers foreign currency loans to individual customers and on which they charge interest of around 9% per annum (for loans in euros).
"The growth of the consumer banking sector has been very dynamic, exceeding our expectations. At present we have 5,000 to 10,000 customers on this segment," Hanif said.
According to ABN chairman Henk Mulder, the bank will probably open two more branches by the end of the year in order to support operations in the retail sector. He said ABN was not interested in the privatisation of Banca Comerciala Romana (BCR) or Casa de Economii si Consemnatiuni (CEC), as it planned to grow organically.
Yesterday ABN launched two long-term unit-linked investment products devised in partnership with Aviva insurance company.
The plans entail monthly savings starting from 20-30 euros (or dollars) that will fund a low value policy, with the rest of the money directed to investment funds.
Aviva estimates an annual investment yield of 7%.
"The two products, Start Up and Reward, were specially designed for our relationship with ABN and will be sold by the managers of the bank," said Carl Boehr, the chairman of Aviva Asigurari de Viata Romania.
The Start Up plan is designed for saving money for the support of children, and includes a provision whereby if the contract holder dies Aviva will undertake to cover the savings until the contract finishes.
The Reward plan is for saving money that will become additional income after retirement, with monthly savings taken directly from customer accounts with ABN. liviu.chiru@zf.ro
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