Bank of Greece issued the following announcement on July 03.
1. INTEREST RATES ON EURO-DENOMINATED NEW DEPOSITS AND LOANS
In May 2020, the overall weighted average interest rate on new deposits remained unchanged while the corresponding rate on loans increased. The spread between loan and deposit rates increased to 4.10 percentage points (see Table 1).
New Deposits
The overall weighted average interest rate on all new deposits remained unchanged at 0.13%.
In particular, the average interest rates on overnight deposits placed by households and by non-financial corporations remained almost unchanged at 0.05% and 0.10%, respectively. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained unchanged at 0.28%.
New Loans
The overall weighted average interest rate on all new loans to households and non-financial corporations increased by 18 basis points to 4.23%.
More specifically, the average interest rate on consumer loans without a defined maturity (a category which comprises credit cards, open account loans and overdrafts) decreased by 9 basis points to 14.53%.
The average interest rate on consumer loans with a defined maturity at a floating rate increased by 86 basis points to 11.82%. The average interest rate on housing loans at a floating rate increased by 34 basis points to 2.66%.
The average interest rate on corporate loans without a defined maturity remained unchanged at 4.56%. The corresponding rate on loans to sole proprietors decreased by 3 basis points to 6.81%.
The average interest rate on corporate loans with a defined maturity at a floating rate decreased by 58 basis points to 2.87%, in May 2020, whereas the volume of new business increased to €793 million from €599 million in the previous month. More specifically, the interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) decreased by 40 basis points to 3.40%, whereas the corresponding volume of new business decreased to €237 million from €262 million in the previous month (see Chart and Table 1).
Original source can be found here.
