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Interest rate spread fell to 4,41% in September

03 November 17 - RE+D Magazine
Interest rate spread fell to 4,41% in September

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ETAD.A.E.

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PEOPLE

Antulio Richetta

Director IBI Group
The interest rate spread between loan and deposit rates decreased to 4.41 percentage points in September from 4.53 points in August, the Bank of Greece said on Friday.

 

The central bank, in a monthly report, said that the overall weighted average interest rate on new deposits remained unchanged, while the average interest rate on new loans decreased.

The overall weighted average interest rate on all new deposits stood at 0.29 pct, unchanged from the previous month. In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.09 pct and the average interest rate on overnight deposits placed by non-financial corporations remained almost unchanged, at 0.13 pct.

The average interest rate on deposits from households with an agreed maturity of up to one year remained at 0.62 pct, unchanged from the previous month. 

The overall weighted average interest rate on all new loans to households and corporations decreased by 12 basis points to 4.70 pct. 

More specifically, the average interest rate on consumer loans without a defined maturity remained almost unchanged at 14.36 pct. The average interest rate on consumer loans with a defined maturity at a floating rate decreased by 22 basis points to 8.30 pct. 

The average interest rate on corporate loans without a defined maturity decreased by 8 basis points to 5.34 pct. The average interest rate on corporate loans with a defined maturity at a floating rate decreased by 18 basis points to 4.15 pct.

Finally, the average interest rate on housing loans at a floating rate decreased by 7 basis points to 2.74 pct. In September 2017, the overall weighted average interest rate on the outstanding amounts of all deposits remained unchanged, while the corresponding rate on all loans remained almost unchanged.

The spread between loan and deposit rates stood at 4.26 percentage points from 4.28 points in the previous month. In particular, the average interest rate on the outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households stood at 0.63 pct, unchanged from the previous month.

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