The authority found that banks participating in Robor setting coordinated their behaviour by exchanging confidential and strategic information, particularly regarding prices, during the fixing procedure. "Our decision did not target banking regulations or policies, but focused exclusively on banks' behaviour during the Robor fixing period," said Bogdan Chiriţoiu, president of the Competition Council.
The largest fine of €167 million was imposed on Banca Transilvania, followed by BCR at €110 million and Raiffeisen Bank Romania at €84 million. Other penalised banks include BRD-Groupe Société Générale, ING Bank, UniCredit Bank, CEC Bank, Exim Banca Românească, Banca Comercială Intesa Sanpaolo România, and Libra Internet Bank.
The investigation, launched in late 2022, found that banks shared confidential firm quotations during fixing periods when these should have remained independent. This coordination particularly affected maturities with low transaction volumes, where the fixing result significantly impacts interest calculations for credits tied to Robor.
Banks have 60 days from receiving the decision's reasoning to present action plans eliminating anti-competitive practices. The Competition Council's decisions are enforceable, with fines collected as state budget revenue through the National Fiscal Administration Agency.
