25 Mar 2010 17:44

Banks reduce loan interest rates to 12.7% in Feb, lowest since Aug 2008

MOSCOW. March 25 (Interfax) - The weighted-average interest rate on ruble loans declined to 12.7% in February 2010 (excluding Sberbank), the lowest monthly average since August 2008.

The average rate was 12.8% in September 2008 and 11.9% in August of that year.

The weighted-average interest rate on retail ruble deposits fell to 9.9% in February from 10.8% in January.

The February rate was the lowest since October 2008, when the banks paid 9.6% on deposits.