Gheţea, ARB: If we are forced to cut interests on old loans, we will make new ones more expensive

Banks will make new loans significantly more expensive if they are forced to significantly cut costs for clients with ongoing loans, following the enforcement of Ordinance 50/2010 in its current form, warns Radu Gheţea, chairman of the Romanian Banking Association (ARB) and chairman of CEC Bank. "If regulations are passed, which are interpreted to mean that every Romanian sees 2-3% of the interest paid for the loan go into their pockets, how do we protect future consumers? These costs (borne by banks by cutting interests on ongoing loans) will be reflected in the cost of future loans," said Gheţea, who was a special guest at the "Meet the CEO" meeting organised by Business Magazin.