Saturday 14 February 2015

Hellenic Bank to reduce base rates by 1%



The Hellenic Bank concurs with the Central Bank of Cyprus` proposal to reduce the cost of lending through a reduction in interest rates.

In a statement, Hellenic Bank’s CEO, Bert Pijls, said that the Bank "welcomes the proposal that Central Bank’s Governor extended yesterday to us, which we find valuable and constructive", adding "we commit our support towards its implementation".

He points out that Hellenic Bank has been following the path of reducing interest rates and over the past six months, it has gradually reduced its deposit rates and a month ago, they announced reduced interest rates from 3% for new loans to businesses.

(CNA)

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