Interest rates as low as 3.5% in some retail products in 2017 - this is what retail banking analyst and Association of Banks in Bulgaria (ABB) board member and CCB Managing Director Georgi Konstantinov forecasts in the quarterly bulletin of the organization, investor.bg informs.
Retail lending has the largest share in the external financing of households in Bulgaria. In recent years, there have been serious improvements in the credit conditions after the global financial crisis of 2008-2009 and follow-up legislative changes, the reduction of interest rates and the abolition of some fees and commissions over the past two years.
These have led to significant market movement and an increase consumer demand is indicated in the analysis. After the sharp jump in interest rates during the economic crisis - to up to 13.5 % in 2009 to 9.76% in 2007, there has been a smooth decline.