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GreeceBusinessInterest rate spread on new deposits/loans up in November

Interest rate spread on new deposits/loans up in November

Hellenic News of America
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The interest rate spread between new deposits and loans increased to 5.75 percentage points in November, as the weighted average interest rate on new deposits increased by 4 basis points to 0.50%, compared to the previous month and the weighted averAge interest rate on new loans increased by 8 basis points to 6.25%, the Bank of Greece said on Friday.

In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations increased by 4 basis points to 0.22%. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained almost unchanged at 1.79%. The corresponding rate on deposits by non-financial corporations increased by 8 basis points to 3.14%.

More specifically, the average interest rate on consumer loans without a defined maturity (a category that comprises credit cards, revolving loans and overdrafts) increased by 6 basis points to 14.96%. The average interest rate on consumer loans with a defined maturity at a floating rate remained almost unchanged at 12.61%, while the average interest rate on housing loans at a floating rate remained unchanged at 5.10%. The average interest rate on corporate loans without a defined maturity remained almost unchanged at 6.87%. The corresponding rate on loans to sole proprietors remained also almost unchanged at 7.77%.

In November 2023, the average interest rate on new corporate loans with a defined maturity at a floating rate increased by 11 basis points to 6.04%. The average interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) increased by 26 basis points to 6.23%.

The weighted average interest rate on outstanding amounts of deposits (including overnight deposits) remained almost unchanged at 0.48%. In particular, the average interest rate on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households increased by 4 basis points to 1.64%. The corresponding rate on deposits placed by non-financial corporations remained almost unchanged at 2.81%.

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The weighted average interest rate on outstanding amounts of loans remained almost unchanged at 6.40%. In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained unchanged at 4.42%. The corresponding rate on consumer and other loans to individuals and private non-profit institutions increased by 4 basis points to 8.21%

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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