“Considering that the [central bank’s] interest rates are at historic lows, we identified an excellent opportunity to support the local economy by launching advantageous loans,” said Andrew Gerber, Executive Director – BCR Retail Product Management.
He said BCR’s new interest rates on consumer loans imply rates below 10% a year for around 80% of the bank’s customers.
In early January, the central bank cut its main lending rate by 25 basis points to a record low of 3.75%, while reducing the minimum reserve requirements on both leu- and foreign currency-denominated liabilities.