Interest rates on loans and deposits in Bulgaria falling, report says
Interest rates on newly-issued household loans, as well as deposits, are decreasing, according to the quarterly report by central Bulgarian National Bank.
The most significant reduction was on consumer loans denominated in local currency the lev. The annual percentage rate (APR) went down about 0.3 per cent to 13.45 per cent.
The APR on housing loans in leva dropped 0.16 per cent in February to 8.55 per cent.
Interest rates on euro-denominated corporate loans have fallen 0.3 per cent to 9.47 per cent, while they increased by 0.1 per cent in leva.
At the same time it turned out that savings brought less returns. The interest on new household deposits in leva for up to one year has dropped more than 0.4 per cent to 5.11 per cent in a just a month.
The reduction was 0.26 per cent for deposits in euro. The cost of the resource for companies , especially in euro, has risen about 0.8 per cent in February, according to Bulgarian media reports quoted by local agency Focus.
Newly-issued financing to companies in leva decreased to 113.7 million leva in February compared to about 200 million leva in January. Loans in euro dropped to the equivalent of 799.7 million leva in February compared to 871.2 million leva in January.
Source: http://sofiaecho.com
(29.03.2012)