BCR raises interest rates on deposits

Banca Comerciala Romana (BCR), Romania's top lender, has increased interest on time foreign currency deposits as of today, in order to obtain loan resources less expensive than those attracted from the interbank market.

Thus, BCR is raising interest for six month euro deposits to an annual 3.5 percent from 3.1 percent, for amounts less than €10,000, while annual interest for amounts between €10,000-25,000 is up to 3.75 percent, and for larger deposits an annual 4 percent interest, according to company officials.

For one year deposits with interest paid at maturity, BCR increased the annual interest rate by 0.25 percent, to 3.75 percent for amounts less than €10,000, and by 0.3 percent to 4 percent for deposits between €10,000-25,000. On deposits exceeding €25,000, the annual interest rate soared to 4.3 percent from 3.9 percent.

For Maxicont euro savings accounts, BCR raised interest to an annual 3 percent for amounts from €250-1,000, and to 3.25 percent for amounts over €1,000.

Interest rates for Maxicont RON savings accounts increased to an annual 6 percent from 4.3 percent for amounts between RON 500-2,500, to an annual 6.25 percent from 5.05 percent for amounts between RON 2,500-5,000, to an annual 6.5 percent from 5.9 percent for amounts between RON 5,000-100,000, to an annual 7 percent from 6.5 percent for amounts between RON 100,000-1,000,000, to an annual 7.1 percent from 6.7 percent for amounts between RON 1-10 million, to an annual 7.1 percent from 6.8 percent for amounts between RON 10-50 mln, and to an annual 7.1 percent from 6.9 percent for amounts exceeding RON 50 mln.

BCR, member of the Erste Group, administers assets in excess of €16 billion. The bank currently has 532 branches and agencies throughout the country, issues 23 types of cards and has 1,400 ATMs and 12,000 POSs.

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