Credit Europe Bank updates Libor index for Swiss franc loans

Credit Europe Bank announced, on Wednesday, the updating, as of the same day, of the Libor index for the retail Swiss franc loans with variable interest rate. As a result of this measure, the interest rate for these loans is reduced.

Photo credit: (c) George CALIN / AGERPRES ARCHIVE

By that decision, Credit Europe Bank aims to protect its customers from the negative consequences brought about by the recent appreciation of the Swiss franc against the national currency.

'We understand the economic impact of the recent trend in the exchange rate of the Swiss franc's exchange rate on our customers and we are concerned with finding solutions for them face to cope with the consequences of the volatile foreign currency environment,' Credit Europe Bank Romania representatives say.

The interest rate will decrease for the entire portfolio of Swiss franc loans with variable interest rate by using the February 5, 2015 value of the 3M LIBOR index of '?0.869%' and the 6M LIBOR index of '?0.760%' respectively.

'We will also analyze the additional solutions to our customers, together with them, depending on their individual assessment,' Credit Europe Bank Romania officials say.AGERPRES