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Cascade Bank Reduces Interest Rates On Credits

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  • Cascade Bank Reduces Interest Rates On Credits

    CASCADE BANK REDUCES INTEREST RATES ON CREDITS

    ArmInfo
    2009-11-06 12:36:00

    ArmInfo. Cascade Bank has reduced the interest rates on dollar trade
    credits from 13% to 11% per annum. As Cascade Bank's press service
    told ArmInfo, the bank started granting of trade credits also in AMD,
    with 13% base interest rate.

    Moreover, Cascade Bank reduced the rates on auto loans from 17-20%
    to 15-18%, and, under cooperation with KIA Motors Company, the bank
    grants auto loans with 5% prepayment. The bank also reduced the rates
    on mortgage credits, including the rates for housing acquisition,
    from 14-16% to 13-15% per annum, and the rates for housing repair have
    been reduced from 24% to 18%. Under cooperation with Glendale Hills
    Company, the bank offers flats in the new buildings at 13% annual
    rate. According to the data of Cascade Bank, the bank resumed granting
    of credits for acquisition of heating systems, at 22% annual rate.

    To note, Cascade Capital Holdings is 100% holder of Cascade Bank's
    block of stock.
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