Romanian Association of Banks: Romanian banks comply with the national legislation regarding the method of calculating loan rates

Banks in Romania respect the national legislation regarding the method of calculating loan installments, the Romanian Association of Banks stated, thus reacting to the statements of the National Authority for Consumer Protection, which claims that beneficiaries of loans in equal installments are, in fact, deceived by banks because in the first years of repayment 75% of the rate represents the interest.

The Romanian Association of Banks points out that this method of calculation is provided for in the Romanian legislation from the beginning of the regulation of lending activity.

In addition, customers are informed about the repayment options and the composition of installments, and the chosen option can be found transparently in the contractual documents.

We remind you that the National Authority for Consumer Protection sanctioned, this week, 11 large banks for misleading commercial practices regarding the method of calculating rates and announced that it will continue the check-ups.

Translated by: Radu Matei