International Internet Magazine. Baltic States news & analytics
Thursday, 25.08.2016, 17:50
The loan and lease portfolio continued to increase relatively quickly in July, growing by 5% over the year.The average interest rate on loans has risen slightly in recent months.The volume of deposits was 7.3% larger in July than a year earlier
Keyword tags: Analytics, Banks, Estonia, Loan, Market Review, Real Estate
Borrowers in Latvia have become more knowledgeable and responsible, taking their time to study interest rates and sometimes spending several weeks to consider loan offers before actually taking a consumer loan, according to a survey carried out by DNB Banka.
The Vilnius municipality intends to borrow up to 50 mln euros from the European Investment Bank (EIB) for refinancing earlier loans and investment projects, Mayor Remigijus Simasius told BNS/LETA.
As the Euribor rate has been declining in the past months, Estonian banks have been forced to raise interest rates of new housing loans to keep their profits and the average interest rate rose also in July, reports LETA/BNS.
The credit information company Krediidiinfo AS and 13 lenders active in Estonia are about to establish a liabilities registry, or so-called positive credit reporting registry, that creditors can use to assess the credit standing of their potential clients, informs LETA/BNS.
In Latvia, people take loans mostly to purchase cars and renovate or refurbish their homes, according to a survey conducted by DNB Banka. Other commonplace purposes for borrowing money include paying for medical services, education and travel, and also debt repayment.
Rising incomes, low interest rates and improving expectations encourage people to take home loans, although Lithuanians still tend to use their own money to buy properties, according the information fro the Delfi news website LETA/BNS reported on Tuesday.