Sat, May 26 2012

Deposit rates in Bulgaria fall in January

Fri, Feb 26 2010 09:24 CET

byDnevnik.bg

1688 Views
Deposit rates in Bulgaria fall in January

Photo: Julia Lazarova

Extending a trend that started September 2009, interest rates on deposits in Bulgaria continued to drop in January, falling by 0.94 percentage points for deposits in leva and by 0.25 percentage points for deposits in euro on a yearly basis.

The average interest rate slipped to 7.20 per cent on lev-denominated term deposits and to 6.05 per cent on similar deposits in euro.

On a monthly basis, the rates fell by 0.30 and 0.02 percentage points, respectively, according to the Bulgarian National Bank (BNB).

Corporate deposits have also moved in the same direction, declining by an annual 0.16 percentage points to 6.43 per cent for deposits in leva and 1.13 points to 3.97 per cent for deposits euro.

January saw the market’s eight most active lenders cut their deposit rates, financial consultancy Moite Pari said.

UniCredit Bulbank, DSK Bank, First Investment Bank, Allianz Bank Bulgaria, Raiffeisenbank, Piraeus Bank, CIBank and Alpha Bank cut deposit interest rates by between 0.25 and one percentage points.

The fall in deposit rates did not result in an immediate decline of interest on loans to businesses and households. Interest rates on loans in January were higher than for the same month of 2009, with a decline only in interest on leva-denominated mortgage loans.

Source: Dnevnik

  • Print
  • Send via email
  • Translate to
  • Share:

To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

In Bulgaria, household deposit rates fall faster than consumer loans

The annual decrease in Bulgaria’s local-currency household deposits was nearly thrice that on consumer loans in July, according to the latest data by the Bulgarian National Bank (BNB).

More in this category

Bulgaria secures one-year extension on Belene loan - minister

The option to postpone the due date was contingent on securing 55 million euro for immediate repayment of the amounts loaned by Belgium's Dexia and Japanese bank Mizuho.

Euro zone unemployment at record high

The Eurostat data agency said that unemployment reached 10.9 per cent in March, up from 10.8 per cent in February. The March figure translates to 17.4 million people unemployed in the euro zone.

Sale of Bulgarian telecom BTC faces cancellation – report

Citing three separate sources familiar with the deal, Capital Daily reports that the creditors found offers submitted by three bidders unsatisfactory.

Raiffeisen takes over Polbank

Eurobank EFG is left with a 30 per cent stake in the merged entity but has said it will exercise its put option on the remaining holding.

Global jobs crisis to continue for some time, ILO report says

The narrow focus of many euro zone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe, said the Director of the ILO Institute for International Labour Studies and lead author of the report, Raymond Torres.

Appointments

Employment Agency

Employment Agency

Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.

Uniqa

Uniqa

Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.

Kamenitza

Kamenitza

Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.

Beiersdorf

Beiersdorf

Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.

Hewlett-Packard

Hewlett-Packard

Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.