Interest rates on new loans remain unchanged, but their volumes are growing
Interest rates on new loans remain unchanged, while their volumes increase. Interest rates on deposits remain at historically low levels, but the trend – despite saving, is reversed. This is evident from the data of the Bulgarian National Bank as of October 2021.
Company loans
The average interest rate on business loans up to EUR 1 million, agreed in BGN, decreased by 0.25 percentage points. to 2.86%, and for those over EUR 1 million it increased by 0.29 percentage points. to 2.56% in October 2021.
The average interest rate on loans up to EUR 1 million agreed in EUR increased by 0.05 percentage points. to 2.42%, and on loans over EUR 1 million decreased by 0.87 percentage points. up to 1.67 percent.
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In October 2021, the average overdraft interest rates in BGN and EUR decreased by 0.04 percentage points. up to 2.50% and 1.90%, respectively.
The volume of new business on loans up to EUR 1 million contracted in BGN increased by 5.7% (BGN 18 million) to BGN 332.9 million, and on loans over EUR 1 million – by 27.7% (91.5 million). BGN) to BGN 421.6 million.
At the same time, the volume of renegotiated loans and refinancing loans in BGN decreased by 4.4% (BGN 12.7 million) to BGN 273.5 million.
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The volume of new business on loans up to EUR 1 million contracted in EUR increased by 2.7% (BGN 1.8 million) to BGN 69.2 million, and on those over EUR 1 million – by 27.2% (BGN 102.5 million). BGN) to BGN 480.2 million.
The volume of renegotiated loans and refinancing loans in euro increased by 76.4% (BGN 170.6 million) to BGN 394 million.
Household bank loans
In October 2021 the average interest rate on consumer loans in BGN decreased by 0.21 percentage points. up to 8.19%, and the annual percentage rate of charge (APR) on these loans – by 0.22 percentage points. up to 8.72 percent.
The average interest rate on housing loans in BGN decreased by 0.01 percentage points. to 2.67%, and the APR on these loans decreased slightly to 2.94%.
The average interest rate on other loans in BGN decreased by 0.24 percentage points. up to 3.11 percent.
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The average interest rate on other BGN loans to Employers and self-employed persons increased by 0.10 percentage points. to 3.24 percent.
In October 2021 the average interest rate on the overdraft in BGN decreased by 0.01 percentage points. to 14.81%, and for credit card loans, outside the interest-free grace period, in BGN increased by 0.05 percentage points. to 20.34 percent.
The volume of new business on consumer loans in BGN increased by 10.1% (BGN 52.7 million) to BGN 574.1 million, and that of renegotiated loans and refinancing loans – by 13.6% (BGN 14.6 million) to BGN 121.6 million.
In housing loans in BGN the volume of new business increased by 8.4% (BGN 36.2 million) to BGN 466.9 million, and that of renegotiated loans and refinancing loans – by 11.9% (BGN 13.7 million) to 129.4. million levs.
The volume of new business on other loans in BGN was BGN 14.3 million and increased by 19% (BGN 2.3 million), and in the case of renegotiated loans and refinancing loans – by 62.2% (BGN 0.6 million) to BGN 1.5 million. BGN.
The volume of new business on other loans in BGN to Employers and self-employed persons increased by 9.4% (BGN 1 million) to BGN 11.2 million.
Corporate deposits in banks
In October 2021, compared to September 2021, the average interest rate on deposits with agreed maturity (DDM) in BGN increased by 0.04 percentage points. to -0.15%, and for those in euro decreased by 0.01 percentage points. up to 0.01 percent.
The average interest rate on overnight deposits in BGN remained at the level of 0.00%, while on overnight deposits in EUR decreased by 0.01 percentage points. up to 0.00 percent.
The volume of new business on deposits with agreed maturity in BGN increased by 73.5% (BGN 36.5 million) to BGN 86.1 million on a monthly basis, and on those in EUR – by 250% (BGN 66.4 million) to 93 million levs. Compared to a year ago, however, there is a decrease, respectively: 54.3 million. BGN and by BGN 21.6 million.
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Household deposits
In October 2021 the average interest rate on deposits with agreed maturity in BGN increased by 0.01 percentage points. up to 0.07%, and for those in euro – by 0.40 percentage points. up to 0.47 percent.
The average interest rates on overnight deposits in BGN and EUR remain at 0.00 percent. The average interest rate on deposits redeemable at notice in BGN remained at the level of 0.15%, and on those in EUR it changed insignificantly to 0.20 per cent.
The volume of new business on deposits with agreed maturity in BGN decreased by 6.2% (BGN 7.8 million) to BGN 117.3 million, and on deposits with agreed maturity in EUR increased by 17.8% (BGN 18.7 million) to BGN 123.8 million.
On an annual basis, however, the decrease in deposits with agreed maturity in BGN amounts to 65.7 million. BGN, and the decrease in this type of deposits in EUR reached BGN 51.9 million.
