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Ctrl Bker: Some Romanian Bks Pay 10% For Deposits, But Ask 35% For Loans

The Romanian national authority for consumers’ protection, or ANPC, should take notice on banks that pay interest rates of about 10% of the deposits, but increased the loan interest rates to near 35%, Adrian Vasilescu, adviser of the central bank's governor, said Tuesday.
Ctrl Bker: Some Romanian Bks Pay 10% For Deposits, But Ask 35% For Loans
18 nov. 2008, 13:59, English

“I wonder what market conditions have changed to have such a margin," Vasilescu said.

He added that ANPC has to step in. "It will be very complicated as it needs specialized structures,” Vasilescu added.

He also explained that in the EU the two activities are also separated, bank supervision and setting the monetary policy on one side, and protecting the client on the other side.

Vasilescu admitted that the central bank receives many complaints from clients, especially private individuals.

However, Vasilescu said that Romanian banks, who are largely owned by important foreign lenders, registered a lack of resources from their parent banks and are more focused on the local market, so savings become a priority.