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.