Raiffeisen caters to personal needs

Raiffeisen Bank, the third top bank in the Romanian banking system, launched two new lending products for individual clients on Tuesday, one day after a similar move by the Romanian Savings Bank (CEC), the fourth player on the market. Recent weeks have seen a spate of new lending products introduced to the market, most of which are aimed at the newly discovered long-maturity market, which allows for a substantial increase in the lending cap, while observing NBR regulations regarding the monthly share of debt as part of total income. BCR, BRD-SocGen, CEC, Banca Tiriac, HVB Bank, Volksbank and Piraeus Bank all now offer funding of up to 50,000 euros for a maximum of 20 years. Most major players on the retail market have already introduced similar products in their portfolios, confirming the high level of interest from customers. Most loans will only be granted if property is pledged as collateral due to the high amounts and long repayment periods involved. The two newly launched Raiffeisen products aim to provide funding for unspecified personal needs and are limited to 50,000 and 5,000 euros respectively. ZF