Mon, Mar 22 2010

Top Bulgarian banks raise rates in July

Thu, Jul 31 2008 17:56 CET bydnevnik.bg 176 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

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Appointments

Piraeus Bank

Piraeus Bank

Pepi Ivanova has joined Piraeus Bank Bulgaria as its news press office manager. She will be responsible for the bank's corporate communications and media relations and its subsidiaries - Piraeus Leasing Bulgaria, Bulfina, Piraeus Auto Leasing, Piraeus Insurance Brokerage and Piraeus Best Leasing. Ivanova has 10 years' experience in public relations and banking. She started her career as an associate at the NGO Center for the Study of Democracy and later became an economics journalist at Trud daily. She has also worked as a client service specialist and credit administrator at United Bulgarian Bank. Before joining Piraeus Bank, Ivanova spent seven years working for Globul mobile operator. She has a master's degree in philosophy and journalism from Sofia University St. Kliment Ohridski and a post-graduate degree in banking from the University for National and World Economy in Sofia. Ivanova also holds a diploma from the London School of Public Relations.

Overgas

Overgas

Valeria Vidinlieva is the new HR manager of Overgas natural gas suppliers. She will be responsible for the company's corporate social responsibility and for selection and training of staff. She joins the company after 24 years at Stomana Industry metallurgic firm, now part of the Greek Viohalco, where she headed the HR directorate. Vidinlieva is a graduate of Sofia's University of National and World Economy and has a degree in HR from Paisii Hilendarski University in Plovdiv.

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