HB increases base rate to 4.5%
22/4/2008 11:06
Hellenic Bank Public Company Ltd announces the change of its base rate from 4% to 4.5% with effect from April 24, 2008.
This decision was taken after evaluating the current economic conditions in the banking sector in Cyprus and overseas, the interbank rate and the cost of money in the Cypriot and international market.
The increase in the base rate concerns current accounts and loans that are connected to the base rate of Hellenic Ban only.
Those exempted are:
1. The loans prior to 31/12/2007, the interest rates of which are not connected to the Hellenic Bank base rate.
2. The loans and current accounts, the interest rate of which is connected to the Euribor or Libor or bear stable interest rate.
This decision was taken after evaluating the current economic conditions in the banking sector in Cyprus and overseas, the interbank rate and the cost of money in the Cypriot and international market.
The increase in the base rate concerns current accounts and loans that are connected to the base rate of Hellenic Ban only.
Those exempted are:
1. The loans prior to 31/12/2007, the interest rates of which are not connected to the Hellenic Bank base rate.
2. The loans and current accounts, the interest rate of which is connected to the Euribor or Libor or bear stable interest rate.
