Business

Private banks down loan rate to SMEs from 40% to 35%

Private banks in Argentina will begin to apply from today a reduction from 40% to 35% on their credit rates for micro, small and medium enterprises. The change occurs after the Central Bank (BCRA) imposed 35% as a new credit ceiling that must be approved by banks that want to access the discount of up to two points in their reserve requirements. Public lenders such as Banco Nación already offer a subsidised rate of 27.9%.

Source: Clarín