Intesa Sanpaolo Bank
lowers to 16 pc the
interest rate of credits
Intesa Sanpaolo Bank has recently cut the interest rates for personal needs loans without guarantees in RON to 16 per cent per year, a press release informs.
The interest rate is fixed over the whole crediting period, and from the end of June until now the interest rate has dropped 5 per cent from 21 per cent initially to 16 per cent now. The effective annual interest rate is 18.35 per cent, which places this type of credit in the top first offers available in the market at this moment. Beyond the fixed interest rate, a major competitive advantage for the client is that he can receive an answer and a pre-approval of the credit in maximum 30 minutes. This type of credit is available only in RON, and its value can range from a minim of RON 3,000 to a maxim of RON 30,000.
The minimum income accepted by Intesa Sanpaolo Bank for this type of credit is RON 450, and the maximum degree of indebtedness of the applicant can be up to 63 per cent.
Public debt up around RON 2 bln in September
The public debt of Romania rose about RON two bln in September against the previous month, from RON 138.2 bln to RON 140.09 bln, and by RON 16.4 bln in the third quarter, the weight in GDP reaching 28.08 per cent, according to the data of the Public Finance Ministry. After the first eight months, the public debt represents 27.7 per cent of GDP, up against the middle of the year when it was 24.77 per cent of GDP. Compared to the end of December, the public debt of Romania rose over six points, from RON 109.75 bln, equivalent to 21.78 per cent of GDP.
Chief of Pirelli Tyres Romania replaced by financial manager
The general manager of Pirelli Tyres Romania, Enrico Malerba, renounced the office and was replaced by the financial manager, Giuseppe Cangelosi, Mediafax informs. Malerba left the office “in order to dedicate himself to other projects,” reads a press release of the company. He has worked in the Italian group for 24 years and coordinated the activity of Pirelli in Romania since 2005. Cangelosi is financial manager since April 2008. The group has two tyre factories in Slatina, with over 2,000 employees, and at Bumbesti Jiu, Gorj county, a unit for the production of anti-pollution filters for diesel engines.
Romania, a lot below European average in terms of SEPA card conformity
Romania is a lot below the European average regarding the share of SEPA (single European payment system)-compliant cards, according to the data presented by representatives of the banking system during a financial seminar yesterday, Agerpres reports. SEPA-compliant cards are equipped with a chip and must respect specific standards (EMV), and the European average of all issued cards is about 70 per cent, with many countries posting shares of over 90 per cent and even 100 per cent already for a few years.
In Romania, at the end of Q3 2009, of the total of 10.6 M debit cards only 19.26 per cent were compliant and 18.99 per cent of the existing 1.5 M credit cards, according to Adrian Apolzan, director at ING Romania.
The Single European Payments Area standards are compulsory for all countries using the single European currency. In Romania, 19 lending institutions processing 90 per cent of all Euro payments have adhered to the SEPA scheme, the Q1 2009 share of such payments being 6.34 per cent.
Romania ranks second in EU based on construction works increase
The volume of construction works decreased by 1.1 pc both in the European Union and in the Euro zone, in September 2009, compared to August, but in Romania is scored a 2 pc growth, second only to the Czech Republic (2.4 pc), according to data released by Eurostat on Wednesday. According to figures available so far, only four EU member states (Romania included) reported an increase in the volume of construction works, in September 2009, over the previous month. At the opposite end, in eight EU members the construction volume dwindled in September, compared to August.
Intesa Sanpaolo Bank