Banks cut interest rates

Wednesday, July 23, 2003

Banks in Colombia have cut their interest rates on consumer loans over the last year, according to a report from the banking regulator. Of the 28 banks surveyed, 22 registered lower rates at end-June, compared to the same period last year - with only two banks registering interest rate increases. State-run agricultural development bank Agrario charged the lowest annual rate at 20.10%.

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