Rekkers: BT sees a slight decline of interests down to a reasonable level

Claudiu Padurean

Robert Rekkers, CEO of Banca Transilvania says at this point, the interests in the market are high, and that the bank he is heading has no intention to grant loans in extreme conditions. The banker sees a decline of interests down to a more reasonable level next week. Interests in the monetary market are likely to be restored to a more reasonable level next week, as the banks will start setting the required reserves, tax payment period will end, and NBR’s next monetary session is coming up soon, BT’s CEO said.“It was an extremely volatile period. The interbank interests are very high, whereas I think the situation will calm down next week. Furthermore, NBR’s session is coming up” BT’s CEO, Robert Rekkers apprised on Thursday, without adding any forecasts on central bank’s next decision.
As of late last week, Romanian monetary interbanking marked was marked by a skyrocketing hike of interests hovering 100% per year, as certain banks in the market displayed interest even of 500-600%.
Robert Rekkers’ statement was made during the press conference of signing the agreement for a loan facility worth 102.5 million euros granted to BT through a syndicated loan leaded by IFC.The loan from IFC amounts to 30 million euros, and the other initiators for granting the loan are Commerzbank, Landesbank, Berlin AG, Mashreqbank, Raiffeisen Zentralbank, Unicredit Bank Austria and Wachovia.
Transilvania Bank is in the top 5 banks in Romania, according to its assets. It has majority Romanian capital and the European Bank for Reconstruction and Development, which holds 15 percent of the share capital, is a significant shareholder. BT is a financial institution represented nationwide, with 526 units and more than 6,700 employees. According to a study conducted in 2008, Transilvania Bank is among the most known 10 Romanian brands. It is the first banking institution in Romania listed on Bucharest Stock Exchange (BVB), in 1997. Transilvania Bank activity is organized according to four main business lines – individual clients, SMEs, big companies, respectively a Department for Medical Doctors – with specific products and services, and has a dedicated staff.

Related posts

Leave a Comment