Top ranking retail banks are yet to make credits in euros more expensive, after the signal sent last week by the European Central Bank, amid heated competition from players seeking to gain market share. The European Central Bank (ECB) increased the key interest rate for the euro by a 0.25% at the end of last week, to 4.25% a year. This is the first modification operated since June 2007. Contacted by ZF, bank representatives said they have not made such moves so far. "For the time being, we have not modified interest rates, but we do not rule out the possibility of revising them in the coming weeks," said Alin Merer, marketing and communication manager of Volksbank. Moreover, some of the banks, Piraeus being one of them, intend to first adjust their deposit interest rates. In fact, new offers keep emerging on the market, for real estate credits with interest rates as low as 4.95% a year (which are, however, fixed for a short period of time), both from big names, such as BCR, and from smaller-size players - Banca Carpatica.
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