HB increases its base rate to 5%
24/6/2008 9:14
Hellenic Bank Public Company Ltd announces the change of its base rate from 4.5% to 5% with effect from 24/6/2008.
This decision was taken after evaluating the current economic conditions in the market on a domestic and international level, the interbank rate and the cost of money in the Cypriot and the international market.
The increase in the base rate concerns the current accounts only and loans that are connected with the base rate of Hellenic Bank.
The increase of the base rate exempts:
1. Loans granted before 1/1/2008, the interest rates of which are connected with the base rate of Hellenic Bank.
2. Loans and current accounts, the interest rate of which is connected with the Euribor or Libor or that bears a fixed rate.
The rates of the existing depository products remain unchanged.
This decision was taken after evaluating the current economic conditions in the market on a domestic and international level, the interbank rate and the cost of money in the Cypriot and the international market.
The increase in the base rate concerns the current accounts only and loans that are connected with the base rate of Hellenic Bank.
The increase of the base rate exempts:
1. Loans granted before 1/1/2008, the interest rates of which are connected with the base rate of Hellenic Bank.
2. Loans and current accounts, the interest rate of which is connected with the Euribor or Libor or that bears a fixed rate.
The rates of the existing depository products remain unchanged.
