Interest rate

Deposits grew by over half a billion euros in March, Bank of Greece figures showed on Tuesday, despite the significant decline in interest rates.

“The Bulgarians don't think what will they do, when they take a credit”, said Georgi Kadiev, Bulgarian Socialist Party MP. 

“Those people need someone to protect them from themselves, because they don't think,” he added in an interview for Nova TV, regarding the amendments to the Consumer Credits Act, aiming to cap the interest rates at 50.5% per year. 

In February the profit of Bulgarian banks rose by BGN 77 M and for the first two months of 2014 reached BGN 149 M, shows Central Bank (BNB) data. 

This is the third consecutive month with increasing profits. The growth is mostly thanks to lower expenses on bad credits and decreasing interest rates. 

BELGRADE - The conditions needed for the banks to lower the interest rates on all dinar loans have been met after the interest rates on authorized overdrafts have been reduced, Serbian economists told Tanjug on Tuesday.