Loans
Attica Bank presents three-year plan for bad-loan reduction
The management of Attica Bank is expected by mid-January to have finalized its plan to reduce the lender's bad loans - which amount to approximately 2.5 billion euros (approximately 65% of its portfolio) - in order to then launch the process to increase its share capital by a total of €490 million.
Gov’t to announce housing project for mid-income group
The government is preparing to unveil the details of a housing project for middle-income groups.
The project will be announced on Jan. 4 at a press event in Ankara to be attended by Treasury and Finance Minister Nureddin Nebati and Environment Minister Murat Kurum, according to the statement from the Environment and Climate Change Ministry.
US mortgage rates top 7% for the first time in 2 decades
The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame the nation's stubbornly high inflation.
Finance Ministry requests banks and servicers accelerate loan arrangements
According to information, Finance Minister Christos Staikouras is exerting pressure on banks and servicers in order to increase volume of loan arrangements through both out-of-court settlements and bilateral agreements.
67% of Bulgarians have taken an Average of One and a Half Loans in 2021
Lower rates expected to give boost to home sales
Home sales are expected to receive a boost following state-lenders' decision to slash interest rates, according to representatives from the sector.
After the Central Bank's decision last week to reduce the key policy rate by 200 basis points, three state-owned lenders, namely Ziraat Bank, Halkbank and Vakıfbank, this week cut interest rates on loans, including housing loans.
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Turkish state lenders lower interest rates
Turkey's state lenders - Ziraat, Halk, Vakıf - announced a drop in interest rates of corporate loans by 200 basis points, following the Central Bank's decision.
The Central Bank cut its policy rate by 200 basis points last week to 16%. The rate will be implemented as of Tuesday.
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Turkey’s short-term foreign debt stock at $126.9 bln in August
Turkey's short-term external debt stock totaled at $126.9 billion as of end-August, the country's Central Bank announced on Oct. 15.
The amount of debt that must be paid over the next 12 months increased 11.1% compared to the end of last year, the bank said in a statement.
Turkish private sector's external debt up in August
The Turkish private sector's outstanding foreign loans in August totaled $173.4 billion, up slightly by $50 million compared to end-2020, the Turkish Central Bank announced on Oct. 14.
The short-term loans-excluding trade credits- of the sector received from abroad were at $8.9 billion as of August, down $835 million from the end of last year.
Demand for Student Loans in Bulgaria Lowers over High Interest Rates
In 11 years, less than half of the amount of the guaranteed student loans have been reimbursed to the state. Students refrain from borrowing money because of the high interest rates, although a total of EUR 20 million was earmarked for student loans in 2021. In 11 years, only 1,274 students have applied for a student loan.