Piraeus Bank computes the variable interest for lei loans by the Oct. 16 ROBOR rate

Piraeus Bank Romania will calculate the interests for lei loans using the ROBOR interbank offer rate dated October 16, of 15.97 percent, to which will add its own margin, as interbank loans are significantly more expensive, announced the bank today.

The decision will be applied retroactively, for those to have already contracted a loan from the bank.

"Piraeus will keep the ROBOR rate at the October 16 quota, for three months, in order to compensate for the negative effects of the loan interests increase. This is meant as an aid for clients in the attempt to stick to their financial commitments," reads the bank release.

Piraeus Bank Romania had 3.95 billion euros worth assets after the first half of the year and aimed to reach 180 units by the end of the year. The bank extended on average by seven units a month, which led to a 45 percent growth of its territorial net compared to the end of 2007.

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