Banlk of Greece issued the following announcement on Oct. 2

1. INTEREST RATES ON EURO-DENOMINATED NEW DEPOSITS AND LOANS

In August 2019, the overall weighted average interest rate on new deposits remained almost unchanged, while the corresponding rate on new loans increased. The spread* between loan and deposit rates widened to 4.42 percentage points (see Table 1).

New Deposits

The overall weighted average interest rate on all new deposits remained almost unchanged at 0.26%.

In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.09%, while the corresponding rate on deposits by non-financial corporations remained almost unchanged at 0.14%. The average interest rate on deposits from households with an agreed maturity of up to 1 year decreased by 3 basis points to 0.54%.

New Loans

The overall weighted average interest rate on all new loans to households and non-financial corporations increased by 11 basis points to 4.68%.

More specifically, the average interest rate on consumer loans without a defined maturity (category which comprises credit cards, open account loans and overdrafts) remained almost unchanged at 14.32%.

The average interest rate on consumer loans with a defined maturity at a floating rate[1] remained almost unchanged at 10.39%. The average interest rate on housing loans at a floating rate[2] decreased by 10 basis points to 3.12%.

The average interest rate on corporate loans without a defined maturity decreased by 4 basis points to 4.87%. The corresponding rate on loans to sole proprietors remained almost unchanged at 6.78%.

The average interest rate on corporate loans with a defined maturity at a floating rate[3] increased by 28 basis points to 3.82% in August 2019, whereas the volume of new business[4] decreased to €398 million from €759 million in the previous month. More specifically, the rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) decreased by 9 basis points to 3.81%, whereas the corresponding volume of new business decreased to €187 million in August from €311 million in the previous month (see Chart and Table 1).

As regards the structure of interest rates according to the size of the loans granted, the rate on loans of up to €250,000 increased by 12 basis points to 5.02%, on loans of over €250,000 and up to €1 million decreased by 26 basis points to 3.65%, while the rate on loans of over €1 million increased by 36 basis points to 3.77%. 

2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS

In August 2019, the overall weighted average interest rates on outstanding amounts of all deposits remained unchanged, while the corresponding rate on all loans remained almost unchanged. The spread* between loan and deposit rates remained almost unchanged at 3.83 percentage points (see Table 2).

Outstanding Deposits

The overall weighted average interest rate on outstanding amounts of all deposits (including overnight deposits) remained almost unchanged at 0.26%.

In particular, the average interest rates on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households and by non-financial corporations remained almost unchanged at 0.55% and 0.70% respectively.

Outstanding Loans

The overall weighted average interest rate on outstanding amounts of all loans remained almost unchanged at 4.09%.

In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained almost unchanged at 2.10%. The average interest rate on outstanding amounts of consumer loans[5] with over 5 years’ maturity decreased by 5 basis points to 6.14%. The corresponding rate on corporate loans remained almost unchanged at 3.54%. Finally, the average interest rate on outstanding amounts of loans to sole proprietors with over 5 years’ maturity also remained almost unchanged at 4.60%

Original source can be found here.

Source: Banlk of Greece