Economy

Banks: They raised lending rates in March

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Unchanged at 0.04% remained the weighted average interest rate on new deposits, the March 2022while the weighted average interest rate on new loans increased to 3.82%, with the result that the interest rate margin between new deposits and loans increased to 3.78 percentage points.

According to the data of the Bank of Greece, the average interest rate on deposits with an agreed duration of up to 1 year by households remained almost unchanged, compared to the previous month, at 0.13%.

On the loans side, the average interest rate on consumer loans has no fixed maturity (category including credit card loans, open loans and current account overdrafts) remained unchanged at 14.69%.

The average interest rate of consumer loans with a specific duration and floating interest rate decreased by 18 basis points to 11.19%.

The average interest rate on floating rate mortgages increased by 5 basis points to 2.44%.

The average interest rates of business and professional loans without a fixed duration remained almost unchanged at 3.89% and 6.51% respectively.

The average interest rate on new business loans with a specific duration and floating interest rate increased by 23 basis points in March 2022, and stood at 2.83%. The average interest rate on floating-rate loans to small and medium-sized enterprises (SMEs) remained almost unchanged at 3.17%.

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