BANK OF GREECE – INTEREST RATES ON BANK DEPOSITS AND LOANS: SEPTEMBER 2022 | MARKET SCREENER

The weighted average interest rate on new deposits remained at 0.04%. September 2022meanwhile, the weighted average interest rate on new loans rose to 4.60%.

The interest rate differential between new deposits and loans widened to 4.56 points.

The weighted average interest rate on deposit balances was little changed at 0.04%, while the weighted average interest rate on loans increased to 3.95%.

The interest rate differential between deposits and loans has widened to 3.91 percentage points.

1.	Interest rates on euro-denominated new deposits and loans

new deposit

The weighted average interest rate on new deposits remained at 0.04%.

Notably, the average interest rates on overnight deposits by households and non-financial institutions remained unchanged at 0.03% and 0.01% respectively. The average interest rate on deposits from households with an agreed maturity of less than one year rose to 0.14% from 0.11% the previous month.

new loan

The weighted average interest rate on new loans to households and non-financial businesses increased by 60 basis points to 4.60%.

Specifically, the average interest rate on open-ended consumer loans (a category that includes credit cards, revolving loans and overdrafts) remained unchanged at 14.11%.

Average interest rates on variable rate consumer loans with fixed maturities fell 24 basis points to 10.96%. The average interest rate on variable rate mortgages increased by 49 basis points to 3.50%.

Average interest rates on new business loans with undefined maturities rose 45 basis points to 4.37%. The corresponding interest rate on loans to sole proprietorships increased by 15 basis points to 6.62%.

of September 2022, the average interest rate for corporate loans with defined maturities at floating rates rose 97 basis points to 3.97%. The average interest rate on floating rate defined maturity loans for small and medium enterprises (SMEs) increased by 66 basis points month-on-month to 4.17%.

Regarding the interest rate structure according to the size of the loan, the average interest rate of the loan is 250,000 Euro increased by 58 basis points to 5.31% on 250,000 Euro to 1 million euros increased 60 basis points to 4.18%, 1 million euros It was up 109 basis points to 3.93%.

2.	Interest rates on outstanding amounts of euro-denominated deposits and loans

deposit

The weighted average interest rate on deposit balances (including overnight deposits) was broadly flat at 0.04%.

Notably, the average interest rate on deposit balances set by households with an agreed maturity of up to two years remained largely unchanged at 0.09%, while the corresponding interest rate on deposits from non-financial institutions increased by 4 basis points at 0.16%. .

loan

The weighted average interest rate on loan balances increased 31 basis points to 3.95%.

In particular, the average interest rate on mortgages with a maturity of more than five years increased by 43 basis points to 2.73%. The corresponding interest rate for consumer and other loans to individuals and private non-profits increased by 17 basis points to 6.64%.

The average interest rate on business loans with a maturity of more than five years increased by 22 basis points to 3.37%. The corresponding interest rate on loans to sole proprietorships increased by 33 basis points to 4.72%.

Table 1: Average interest rates for new Euro-denominated deposits and loans (per annum)

July 2022

August 2022

September 2022

deposit

accommodation from home

0.03

0.03

0.03

Accommodation from non-financial corporations

0.01

0.01

0.01

From households with maturity within 1 year

0.13

0.11

0.14

Weighted average rate of all deposits

0.04

0.04

0.04

loan

Consumers with undefined maturity

14.13

14.11

14.11

Companies without defined maturity

3.76

3.92

4.37

For sole proprietorships with no expiration date

6.37

6.47

6.62

variable rate housing

2.84

3.01

3.50

Consumers with defined maturities at variable interest rates

11.33

11.20

10.96

Legal entities with defined maturities at floating rates:

2.57

3.00

3.97

amount up to 250,000 Euro

4.63

4.73

5.31

more than 250,000 Euro to 1 million euros

3.60

3.58

4.18

more than 1 million euros

2.52

2.84

3.93

Floating rate fixed maturity loans for small businesses

3.62

3.51

4.17

Weighted average interest rate of all loans

3.71

4.00

4.60

interest rate spread

3,67

3.96

4.56

Table 2: Average interest rates (per annum) on balances of euro-denominated deposits and loans

July 2022

August 2022

September 2022

deposit

From households with maturity within 2 years

0.08

0.08

0.09

From a non-financial entity with an agreed maturity of up to two years

0.10

0.12

0.16

Weighted average rate of all deposits

0.03

0.03

0.04

loan

Housing with maturity of 5 years or more

2.15

2.30

2.73

Consumer Loans and Other Loans for Individuals and Private Non-Profit Organizations with a Maturity of Five Years or More

6.39

6.47

6.64

Corporations with a maturity of 5 years or more

3.11

3.15

3.37

For sole proprietors with a maturity of 5 years or more

4.26

4.39

4.72

Weighted average interest rate of all loans

3.56

3.64

3.95

interest rate spread

3,53

3.61

3.91

Note:

1.	The interest rate spread is the difference between the weighted average rate on all loans and the weighted average rate on all deposits.
2.	For the calculation of the weighted average interest rate on all outstanding deposits the overnight deposits are also taken into account.
3.	Loans at a floating rate comprise also loans with an initial rate fixation period of up to one year.
4.	New business refers to new contracts that were agreed during the reference month and not actual loan disbursements.

Related information:

A complete dataset of bank deposit and lending rates is published in the sub-section “Bank Deposit and Lending Rates”. Bank of Greece website.

next press release October 2022 will be published to December 2, 2022 According to the release calendar of Bank of Greece website.

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