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Loan-deposit interest rate spread jumps 4,5%

04 December 17 - RE+D Magazine
Loan-deposit interest rate spread jumps 4,5%

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The interest rate spread between loan and deposit rates increased to 4.5 percentage points in October, from 4.41 points in the previous month, as the overall weighted average interest rate on new deposits remained almost unchanged, while the average interest rate on new loans increased, the Bank of Greece said on Monday.

 

The central bank, in a monthly report, said that the overall weighted average interest rate on all new deposits remained almost unchanged at 0.30 pct from 0.29 pct in 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 increased by 4 basis points to 0.17 pct. The average interest rate on deposits from households with an agreed maturity of up to one year remained almost unchanged at 0.63 pct.

The overall weighted average interest rate on all new loans to households and corporations increased by 10 basis points to 4.80 pct. More specifically, the average interest rate on consumer loans without a defined maturity increased by 12 basis point to 14.48 pct. The average interest rate on consumer loans with a defined maturity at a floating rate decreased by 24 basis points to 8.06 pct.

The average interest rate on corporate loans without a defined maturity decreased by 3 basis points to 5.31 pct. Finally, the average interest rate on housing loans at a floating rate decreased by 20 basis points to 2.54 pct.

In October 2017, the overall weighted average interest rate on the outstanding amounts of all deposits remained almost unchanged, while the corresponding rate on all loans remained unchanged. The spread between loan and deposit rates stood at 4.25 percentage points from 4.26 points in the previous month.

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