BUSINESS

CEC customers may opt for the interest calculation procedure in effect before OUG 50

The individual customers of CEC Bank who had ongoing loans on June 21st 2010 may opt, until March 2nd 2011, to have their interest calculated according to the formula in effect before the enforcement of OUG 50, respectively the base interest of the bank, Prime Rate (PR) + Margin, CEC Bank announces in a press release. The current value of the PR for loans in Romanian currency is 8.4 pc a year, down from 9.9 pc a year on April 1st 2010, while the current value of the PR for EUR or USD stands at 6.3 pc, down from 6.9 pc a year on April 1st 2010.

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