Sun, Nov 22 2009

Top Bulgarian banks raise rates in July

Thu, Jul 31 2008 17:56 CET bydnevnik.bg 158 Views

Several of Bulgaria's leading banks increased their rates on mortgage and consumer credits in July, data from fincity.bg, the Bulgarian comparison shop portal for financial products and services, showed.

Mortgage rates increased from 0.1 per cent to 0.5 per cent, while the cost of consumer loans edged up 0.1 per cent to 1.45 per cent.

Borrowers continue to shun euro-denominated loans despite the superior terms in comparison with programs in the local currency.

'This is because of persistent belief that the lev is depreciating because of the high inflation,' said Nikolai Staikov, the FinCity executive director.

Demand for euro-denominated consumer loans is expected to pick up over the next couple of months as borrowers take the bait of lower interest rates.

The reverse trend is shaping demand on the mortgage lending segment where euro-denominated loans have the upper hand.

The survey found the home buyers are looking for the maximum term of maturity and the lowest percentage of co-financing on the part of the borrower.

Read the full article on Dnevnik.bg

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

Bulgarian MPs resurrect proposal to raise spirits excise

Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.

Back to the future

Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector

At a crossroads, again

Kremikovtzi’s prospects for a recovery plan appear increasingly distant

Cash or card?

Bulgarians are getting the hang of debit and credit cards, MasterCard says

Bulgarian telecom Spectrum Net acquires local peer Orbitel

The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.