08/25/11 19:34
(http://www.klassa.bg/)

Corporate lending up by nearly 50% in the first seven months of 2011

From the beginning of 2011 by the end of July, banks in Bulgaria extended new credits to business totaling BGN 7.28 bn, Bulgarian National Bank (BNB) data showed. Although the economic situation on the global markets is still unstable, businesses in our country are beginning to recover. BNB statistics shows that the money extended to companies increased by almost 50% or BGN 2.38 bn, compared to a year earlier. In January-July 2010, corporate credits stood at BGN 4.9 bn.

In July 2011, businesses in Bulgaria were actively drawing loans which amounted to BGN 1.199 bn, or 53.6% (BGN 418 mln) up from the same month of last year and BGN 270 mln up from a month earlier. May was the strongest month in term of corporate lending. According to 2011 data, within that month alone companies borrowed a total of BGN 1.23 bn.

Interest rate trends also give positive signals. Interest rates on corporate and household credits continued to fall in July for a third consecutive month. Loans of up to €1 mln extended to companies starting a new business were 0.29% cheaper than in June, the interest rate on these being 8.3%. New loans exceeding BGN 1 mln were extended at an interest rate of BGN 7.88%, registering a 0.28% decrease in the interest rate. These are the most advantageous credits at present. Loans of up to BGN mln are still the most expensive, the average interest rate on these being 9.46%.

Mortgage credits borrowed by households in July were also cheaper, compared to a month earlier, BNB data showed. Contracted housing loans in Euros were 0.39% cheaper, the interest rate on them being 7.53%, while interest rates on loans in BG leva fell by 0.12% to 8.23%. Interest rates on consumer loans in Euros dropped to 12.05% percent in July, compared to 12.16% in June. At the same time, interest rates on consumer loans in Bulgarian currency increased from 9.22% to 9.36%.

Bank savings are bearing lower yields, it becomes clear from the BNB’s statistics. Interest rates on deposits fell further in July, the average rate standing at 5.58% for deposits in BG leva and at 4.87% for savings in Euros. New deposits, however, bear average interest rates of 5.33% and 4.79% for leva and Euros, respectively.
Facebook TwitThis Google del.icio.us Digg Svejo Edno23 Email

Свързани новини:

новини от България
graphic
спортни новини
graphic

Бързи връзки


Търсене


Архив

RSS Абонамент

Новини от Грамофон

"Новини от Грамофон" - Следете последните новини от България и чужбина обединени на едно място. Обновяват се през 1 минута.

 

  •  

Ново: Публикуване