National Bank of Serbia to Press Charges against Raiffeisen Bank and HVB Bank

6. Juli 2006, 00:00

According to the Belgrade daily Danas, the National Bank of Serbia (NBS) has decided to press charges against ...

According to the Belgrade daily Danas, the National Bank of Serbia (NBS) has decided to press charges against Raiffeisen Bank and HVB Bank because they increased the interest rates on the credits they had already approved.

They informed their clients that a raise in the interest rates occurred because of NBS measures, which aim to curb the inflation rate.

The NBS decided to press charges against Raiffeisen Bank and HVB Bank because 95 per cent of 3,000 client complaints referred to these two banks.

NBS Governor Radovan Jelasic reminded that the NBS finished the investigation of the costs of credit re-financing. He noted that it is obvious that certain banks receive favourable financial means from their home banks abroad and then sell them in Serbia at higher interest rates.

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