Libra Bank grants special credits to architects

After products dedicated to doctors, Libra Bank has launched credits for architecture firms, be they for investments or for their regular activities, based on a partnership closed with The Architects’ Order. The bank does not require tangible assets as collateral unless the sum requested by the client exceeds 50,000 RON. When analysing the revenues, the bank considers the sums collected by the firm, and not the profit. A maximum 6-month grace period can be granted. If the credit is repaid in advance, the bank says it will not charge penalties. Additionally, architects and their family members who open deposits with Libra Bank get special interest rates, which can reach 8.25% a year for fixed interest deposits. Moreover, the bank does not charge a fee for opening an account or for withdrawing money. Libra Bank has been controlled by the American investment fund New Century Holdings since 2003. Halfway through this year, the bank’s assets totalled 670 million RON (around 209 million euros), up 20.5% against the first quarter of the year, with net profit standing at 411,901 RON (around 128,000 euros) six months into the year.