Competition Council wins court cases against banks in the ROBOR scandal - impact on pensioners

The Competition Council has secured significant court victories against two banks under investigation for allegedly manipulating the ROBOR index, which serves as the benchmark for the majority of loans in Romania. The Sector 1 Court and the Bucharest Court of Appeal both rejected the banks' requests to suspend the legal proceedings conducted by the competition authority.

Implications for Romanians' loans

This ruling has major implications for all Romanians with loans indexed to ROBOR, including pensioners who have taken out bank loans. Should the manipulation of the index be proven, they could seek compensation or a recalculation of their repayments for the affected period.

Background to the investigation

Competition authorities suspect that the banks artificially coordinated the setting of ROBOR levels, influencing the cost of borrowing for millions of Romanians. The banks under investigation attempted to block the conclusion of the case by suspending the proceedings; however, the courts ruled in favour of the Competition Council.

For older adults with bank loans, this development represents an important step towards clarifying the situation and potentially obtaining compensation, should the manipulation of the benchmark index be confirmed.