Bank lending rates are not a major concern for businesses as “some organisations” have made them out to be, according to a leading employer organisation.
David Curmi, president of the Chamber of Commerce, Enterprise and Industry, said the relatively high lending rates and bank charges did not figure among members’ top four concerns.
“Our members have not indicated lending rates as a major obstacle to growth and investment,” he said, when asked about a recent European Commission in-depth report on macroeconomic imbalances that highlighted the high interest rate margin on bank loans in Malta.
The surprise declaration contrasts with repeated criticism over the “high” interest rates charged by banks on loans by another employer organisation, the Chamber for Small and Medium Enterprises – GRTU.
Mr Curmi adopts a cautious approach, insisting any decision on interest rates has to be accompanied by an impact assessment.
“The good financial standing of Maltese banks is one of the reasons why the country weathered the financial crisis and we should do nothing to undermine this,” he said.
More in timesofmalta.com Premium