Mon, Mar 22 2010

Bulgarian banks press ahead with loan rate increases

Fri, Jun 05 2009 01:51 CET byDnevnik.bg 1265 Views
Bulgarian banks press ahead with loan rate increases

Photo: Юлия Лазарова

Bulgarian banks put up loan interest rates and a number of fees in May 2009, with consumer loan prices rising by a wider margin than mortgages, showed statistics compiled by financial consultancy Moite Pari.
 
Rates and fees were increased by UniCredit Bulbank, Alpha Bank, First Investment Bank (FIB), Allianz Bank Bulgaria and Cibank.
 
Banks will continue to tweak rate policies until the market cools off. Rates are expected to hover around their current levels, Tihomir Toshev, executive director of credit consultants Credit Center, told Dnevnik. Lenders’ interest rate policies hinge on the cost of resources as well as their targeted market position, among other factors, he said.
 
The credit is still tight and expensive, with all new borrowers digging deeper in their pockets, according to the report.
 
At the same time, banks are plagued by a shortage of liquidity as is seen by the ongoing deposit promotions offering generous return, the analysts said.
 
In May, nine institutions extended the duration of their special deposit offers or rolled out new products. The focus has shifted to longer periods of six and 12 months.

Source: 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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