The loan has an interest rate of 6.98% for euro and 9.61% for leu. The interest rate varies on EURIBOR and ROBOR, the bank said in a news release.
Volksbank Romania has been active on the local market since 2000. It is majority owned by Volksbank International AG, held by Österreichische Volksbanken-AG.
Sberbank, Russia’s largest bank, announced recently that it has bought Volksbank International, but the transaction did not include the Romanian subsidiary.
After the conclusion of the transaction, the Volksbank group announced that the Romanian division would be repositioned within two-three years, after which it will be sold.
Volksbank Romania assets reached EUR4,8 billion at the end of July, with its loan portfolio amounting to EUR3.13 billion.