17 December 2017
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Loan-deposit rate spread down in June

02 August 17 - RE+D Magazine
Loan-deposit rate spread down in June

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The interest rate spread between loan and deposit rates decreased to 4.27 percentage points in June, from 4.46 points in the previous month, the Bank of Greece said on Wednesday.

 

The central bank, in a monthly report, said that in June 2017, the overall weighted average interest rate on new deposits remained almost 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, almost unchanged from the previous month. In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.09 pct, while the average interest rate on overnight deposits placed by non-financial corporations remained almost unchanged, at 0.14 pct.

The average interest rate on deposits from households with an agreed maturity of up to one year decreased by 3 basis points to 0.61 pct. The overall weighted average interest rate on all new loans to households and corporations decreased by 20 basis points to 4.56 pct, from the previous month.

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 8 basis points to 14.39 pct.

The average interest rate on consumer loans with a defined maturity at a floating rate decreased by 29 basis points to 8.06 pct. The average interest rate on corporate loans without a defined maturity decreased by 7 basis points to 5.49 pct.

The average interest rate on corporate loans with a defined maturity at a floating rate decreased by 50 basis points to 3.86 pct. In June 2017, the overall weighted average interest rate on the outstanding amounts of all deposits remained unchanged, while the corresponding rate on all loans decreased by 3 basis points.

The spread between loan and deposit rates stood at 4.36 percentage points, from 4.39 points in the previous month.

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