BCR, the biggest domestic bank in terms of assets, has taken themarket by surprise after having unexpectedly raised the interestrate for RON-denominated consumer loans, to 14.5% per annum, thussignaling a turning point after a period when promotions had drivenborrowing costs down.
The reason of this correction? Demand topped expectations atthis price level.
"There was a promotional cost campaign and now we've adjustedpricing (the level of interest rates i.e.) as demand beatexpectations. We haven't reverted to pre-campaign prices, though",BCR representatives commented yesterday.
While most large banks came up with promotional campaigns in thefirst part of the year, the effort has not been reflected ingeneral statistical data. BNR further registered declining consumerloan amounts from one month to another, inclusively in March. Thismeans that sales of new loans have not come to match sums paid backby clients, yet.
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