Commercial interest rates will no longer decrease, but this will not stop growth in lending, industry representatives shared.
In particular, Sense Bank plans for their loan portfolio to grow by 150% this year, and in 2025 it is to grow by another 100%. As well, Taskombank announced that they have already fulfilled this year’s plan for a 100% increase in their small and medium-sized business loan portfolio. The bank has adjusted the plan, and is set to increase its portfolio by at least 20% by the end of the year. Piraeus Bank will increase its loan portfolio by 15% by the end of the year, including through the 5−7−9% program.
As for rates, Sense Bank says that they will remain at the current level in accordance with the 5−7−9% program as well as the banks’ own loan programs. Rates and anticipated to be from 14% to 16%. Piraeus Bank does not expect significant changes in interest rates either, and assumes a slight dynamic of ±0.5%.
“The fourth quarter is usually the period of the largest growth in the loan portfolio,” the bank added.