Raiffeisen Romania to repay EUR 19 mln of undue interest charged on loans extended during 2006-2009
Romania’s High Court (ICCJ) ruled that Raiffeisen Romania has to pay back EUR 19 mln, plus interest to be calculated on a case-by-case basis, to over 9,000 of its customers who took loans during 2006-2009, Bursa.ro reported.
iulian ernst · Journalist
· Updated · 1 min read
Romania’s High Court (ICCJ) ruled that Raiffeisen Romania has to pay back EUR 19 mln, plus interest to be calculated on a case-by-case basis, to over 9,000 of its customers who took loans during 2006-2009, Bursa.ro reported.
The bank unilaterally raised the interest of the loans with no ground, according to the ruling, which is final.
Raiffeisen Romania pledged to comply with the verdict, calculate the interest and make the payments to its customers without waiting for individual demands.
On average, the bank has charged with no grounds interest of over EUR 2,000 per customer. It’s not immediately clear what interest will use Raiffeisen for calculating the interest paid for the sums to be returned to its customers: if it uses the interest it used to charge to its customers, the sum may easily double.
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