/ world today news/ Banks in Bulgaria can provide over BGN 20 billion of new credit resources if there is sufficient interest. Thus, they can contribute to a serious growth of investments and consumption, explained the chairman of the Association of Banks in Bulgaria Petar Andronov and CEO of SIBank, during a conference dedicated to the absorption of European funds.
Since 2009, the drop in interest rates on business loans has been close to 3.2%, Andronov said, adding that there was no such significant drop in any other segment. According to the head of the banking association, this is largely due to financial instruments financed with European money, such as “Jeremy”. Thanks to them, banks had cheap access to resources during the years of the crisis.
Andronov also predicts that the downward trend in interest rates on business loans will continue until the end of the year, and there will probably be a decrease in prices by up to 1%, writes in “Trud”.
According to the latest data from the Bulgarian National Bank (BNB), as of March, interest rates on new company loans ranged from 5.81% to 8.61%. The interest rate is different depending on the size of the loan, the currency in which it is granted, etc.
Andronov recalled that banks in our country are super-liquid and loans are granted on favorable terms. He predicts that if stability is maintained in the country, economic growth may exceed 2%. The latest NSI data already recorded GDP growth of 2 percent.
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