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BCR fails to suspend EUR 110 mln fine imposed by Romania's competition watchdog in ROBOR case
BCR, part of Austrian financial group Erste, has lost its appeal seeking to suspend payment of the RON 577 million (EUR 110 million) fine imposed by the Competition Council on the country's ten largest banks over alleged manipulation of the interbank money market quotation, with the aim of collecting higher interest on their stock of loans indexed to the ROBOR benchmark.
iulian ernst · Journalist
· 2 min read
BCR is the second bank to lose its case at the Bucharest Court of Appeal, after state-owned CEC Bank, according to Economica.net.
Overall, the ten Romanian banks were fined RON 3.7 billion, or just over EUR 700 million.
