Credit Europe Bank is announcing a revaluation of the LIBOR index for the CHF loans with variable interest granted to individuals and as a result, a decrease in the interest rate for these loans. The decision shall take effect starting with February the 5th, 2015. With this measure Credit Europe aims to protect its clients from the negative consequences of the recent increase in the Swiss Franc in relation to the local currency.
"We understand the economic impact of the CHF exchange rate recent evolution over our clients and we are preoccupied to find solutions for supporting them in front of the consequences of a volatile foreign exchange environment", said Credit Europe Bank officials, explaining this decrease of the interest rate.
The interest rate will be reduced for the whole portfolio of CHF credits with variable interest by the value valid at 04.02.2015 of 3M LIBOR index "- 0.869%" and respective 6M LIBOR index "- 0.760%".
This reset of the LIBOR index is done in advance from the date stipulated in the loan agreements and this new value will be applicable until the next term of re-evaluation according to the relevant contract. This measure will also be applicable for loans during restructuring.
"We will also analyse additional solutions together with our clients, based on their individual situation", stated the Credit Europe Bank officials.
Promptly after the upward evolution of the CHF exchange rate, as a first supportive step towards its clients, Credit Europe Bank has also offered a favourable exchange rate compared to the standard one listed at the counters, to all clients who came to the Credit Europe Bank's units to pay CHF loan instalments.
About Credit Europe Bank
Member of the Credit Europe Bank NV Dutch financial group, the bank is active since 1993 as Banca de Credit Comercial si Industrial, subsequently as Finansbank (2000), and later on, since 2007, following a rebranding process, under the name Credit Europe Bank Romania.
Credit Europe Bank provides a large number of products and services in Romania for individuals, SMEs and corporations, through 57 branches, agencies and sales points, as well as through alternative distribution channels such as: ATMs, POSs, Internet and Phone Banking. In 2013, Credit Europe Bank (Romania) S.A. celebrated 20 years on the local market.