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Association of Banks: The criticism regarding the level of lending rates is unfair

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Regarding the continuous increase in lending rates, Andreas Kostouris, said that moves were made by the banks, before the banks' measures were announced.

The Banks Association is looking forward to the meeting with the Minister of Finance, Makis Keravnos, to explain to him the measures implemented by the banks for borrowers, after the continuous interest rate increases by the European Central Bank Bank, so that any questions can be resolved, according to what Andreas Kostouris, the Communication Manager of the Association, stated on the NEWS DISTRIBUTION show.

Asked to comment on the finance minister's statement that he is not satisfied with the position of the banks in relation to the level of lending rates, he said that when it is explained in further detail what the banks have done on the matter, “what is their extent , who they concern and what is their economic impact, he will, we believe, be more satisfied than disappointed without this meaning that he will not ask for something on his part”.

Regarding the continuous increase in lending rates , Mr. Kostouris said that moves were made by the banks, before the banks' measures were announced, and indicatively, as he said, are the data given to the Trade Committee of the Parliament by the Governor of the Central Bank in relation to the increase in renegotiations and of loan restructurings.

“We are in regular communication with the client, when something goes wrong, to find a solution that will get him out of the difficult situation”, he added.

Source: www.kathimerini.com.cy

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