Alpha Bank interest rate cut

[Janner]

Hi,

Does the recent interest rate cut announced by Alpha Bank apply to mortgages (including swiss franc ones)??

Janner

[Nigel Howarth]

Hi Janner,

Take a look at the announcement at Alpha Bank Cyprus Ltd announces interest rate cut. It applies to "all excesses and/or arrears of current accounts and/or fixed term loans and/or other banking facilities held with our Bank are charged, either in Euro or in any foreign currency"

Regards,

[Janner]

I wonder why Alpha Bank have slashed their rate by approximately half when Laiki Bank recently increased theirs?

Why is it so disjointed? The cut does appear to be drastic.

Is Cyprus on the slide?

[Pantheman]

Perhaps they have finally realised it's no good pushing under when you are already down. After all, if you finally fail they get nothing.
Better to have something than nothing I guess. Alph Bank has been in the spot light of late so perhaps it is a way to try and redeem themselves????

[Nigel Howarth]

or perhaps they are trying to preserve what little reputation they have left.