One could not expect interest rates to continue to fall, each credit client would have to be aware of the height of the credit they could take out, Ivan Iskrov, manager of the Bulgarian National Bank (BNB) said on Bulgarian National Television (BNT) on the occasion of the national holiday for bankers.

"Interest rates on credits for households and companies in Bulgaria continue to be close to zero or negligible. It would be realistic to expect, sooner or later, that internationally higher interest rates would be reflected in higher local interest rates," Iskrov said at a annual meeting with bankers, Dnevnik daily said.

Iskrov warned banks to better inform clients of the real costs of credits, in order to avoid increased credit risk in the system. According to specialists, the current 60 per cent increase in credits could not be stable and if it would continue at the same rate, BNB would have to intervene again.

"While credit risk in the system increased, the strong competition over market share has lead to lower credit standards and lower interest rates for credits," Iskrov said.

Levon Hampartsoumyan said that to lower the risk of banks and protect them from high-risk clients, the introduction of a credit bureau was needed. The credit bureau would, different from the register at BNB, keep credit history records. Such a system would not keep exact records on credit amounts, but issue a credit-worthiness value for those who applied for credits. This value should take into account even how regularly an applicant has paid for public utilities, Hampartsoumyan said.