 |
|
Shortly after receiving the necessary authorizations for operating as a commercial bank, CEC (the Savings Bank) launches this week a powerful attack in the loan market, through products in lei at interests even below the ones applied by the competitors. CEC promotes a loan of mortgage and loan for real estate investments, at an annual interest rate of 9,75%, fixed in the first three years upon contracting. According to the president of the CEC, Eugen R`dulescu, launching the new package of loans in lei along with the coming into force of the BNR norm regarding the limitation of the loans in currency is only a coincidence. The CEC offer also includes a loan for
travel, another one for studies and a third one for medical needs, all of them with an annual variable interest of 15%. The same interest of 15% will be applicable also for the car loan, for which the annual interest has been 17% so far, as well as for the loan for buying domestic hardware. CEC also comes with a loan version for real estate investments at a variable interest, decreasing from an annual 16% to 14%. In order to benefit from the extended network of units in the rural area, CEC will also launch a rural loan for unspecified needs, in amount of up to 750 lei, with a maximum due date of one year and annual interest of 13,75%. In December, later than initially announced, the bank is to issue also the first debit cards, and in trimester I 2006, credit cards as well. Likewise, a network of 137 ATMs and 1.000 POS-es will be launched, the
latter ones allowing cash withdrawal in smaller towns without any ATMs. But CEC does not abandon its established status as a savings institution, and it will launch a new product for savings, with fixed amounts deposited monthly, as well as the facility to withdraw cash any time the client wishes, without
losing the interest - situated around an annual 6,5-7,25%, depending on the amount deposited. In parallel with these projects, CEC carries on the restructuring process, personnel being cut from 9.000 employees at present to 7.600 employees by the end of the year. "It is likely, but we haven't got any
supplementary information from Bucharest", the CEC Mures manager, Emil Baciu stated. (I.O.)
|
