National Bank of Romania imagines dreadful conversion scenario for banks
The 11 banks that have loans in Swiss Francs in their portfolios would lose EUR 950 million if they applied the conversion rate from the moment clients took the loans. Romania’s National Bank has created a scenario based on the historical…
Romania Insider · Journalist
· Updated · 1 min read
The 11 banks that have loans in Swiss Francs in their portfolios would lose EUR 950 million if they applied the conversion rate from the moment clients took the loans. Romania’s National Bank has created a scenario based on the historical exchanges rates when 75,000 people took loans in Swiss Francs. About 32% of the 75,000 people borrowed from Bancpost, 24% from Volksbank, 20% from Piraeus Bank, 11% from Raiffeisen, 7% from Banca Romaneasca and 2% from OTP Bank, reports local Mediafax. The Swiss Franc has strongly appreciated during the last ten days after the Swiss Central Bank decided to drop the minimum benchmark of 1.2 CHF/EUR. The loans in Swiss Francs amount to about EUR 2.18 billion in Romania. editor@romania-insider.com
