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Wednesday, 01 September 2010

Belarus’ banks cut interest rates on Br corporate loans in July to 14%

Belarusian banks decreased the average annual interest rates on new corporate short-term loans in Belarusian rubles (Br) to 14% in July 2010 from 20.5% in July 2009, an official with the information department of the National Bank of Belarus (NBB) told Tuesday.

Interest rates on long-term loans in Belarusian rubles increased to 7.1% from 6.4%.

Interest rates on corporate short-term loans in hard currency decreased to 9.1% in July 2010 from 13.4% in July 2009, while interest rates on corporate long-term loans in hard currency went down to 8.9% from 11.5% in July 2009.

Interest rates on personal loans in Belarusian rubles decreased to 10.7%-19.7% in July 2010 from 12%-21.1% in July 2009.

Belarusian banks’ loan portfolio excluding factoring, leasing and promissory notes operations increased 16.9% in January-July 2010 to 74.366 trillion rubles. Of the total, loans to households accounted for 25.4%, loans to private companies for 49.3%, and to state companies for 24.1%. (Br3,012 - U.S. $1)

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