PragueConnect.cz - Economy

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GE Money Bank extended mortgages totalling CZK 813m

GE Money Bank (GEMB) extended mortgages totalling CZK 813m in H1 2015. The development of refinancing from other banks has a growing tendency and on the average accounts for ca. 309% of the value of new mortgages. The spokesperson for GEMB, Milada Franek, has stated in a survey for CIANEWS that GEMB extends loans with up to 80% LTV. Totally 6-7% of the mortgages have a variable interest rate. Ms. Frank says that the bank does not plan to raise the interest rates in the near future.

Source: www.cianews.cz