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BoG: Loan/deposit interest rate spread up in November

Greek banks raised lending interest rates in November but kept deposit rates unchanged in the month, the Bank of Greece said on Thursday. The central bank, in a monthly report, said that the spread between loan and deposit rates also increased to 4.05 percentage points.

The overall weighted average interest rate on all new deposits remained almost unchanged at 0.09%. In particular, the average interest rates on overnight deposits placed by households and by non-financial corporations remained almost unchanged at 0.04% and 0.05%, respectively. The average interest rate on deposits from households with an agreed maturity of up to 1 year decreased by 3 basis points to 0.21%. The overall weighted average interest rate on all new loans to households and non-financial corporations increased by 4 basis points to 4.14%.

The average interest rate on consumer loans with a defined maturity at a floating rate decreased by 11 basis points to 10.97%. The average interest rate on housing loans at a floating rate decreased by 16 basis points to 2.33%. The average interest rate on corporate loans without a defined maturity remained almost unchanged at 4.44%. The corresponding rate on loans to sole proprietors remained also almost unchanged at 6.67%.

The overall weighted average interest rate on outstanding amounts of all deposits (including overnight deposits) remained almost unchanged at 0.09%. The average interest rate on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households remained almost unchanged at 0.22%; the corresponding rate on deposits placed by non-financial corporations remained also almost unchanged at 0.16%. The overall weighted average interest rate on outstanding amounts of all loans remained almost unchanged at 3.79%.

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