Bank interest rate spread up in May
The overall weighted average interest rate on all new deposits stood at 1.10 pct in May 2015, almost unchanged from the previous month. In particular, the average interest rates on overnight deposits placed by households and non-financial corporations remained almost unchanged at 0.17 pct and 0.27 pct respectively. The average interest rate on deposits placed by households with an agreed maturity of up to one year remained almost unchanged at 1.81 pct.
The overall weighted average interest rate on all new loans to households and corporations increased by 7 basis points from the previous month to 4.98 pct.
More specifically, the average interest rate on consumer loans without a defined maturity decreased by 7 basis points to 14.49 pct. The average interest rate on consumer loans with a defined maturity at a floating rate increased by 31 basis points to 7.50 pct.
The average interest rate on corporate loans without a defined maturity remained almost unchanged to 6.25 pct, while the corresponding rate on loans to sole proprietors decreased by 6 basis points to 7.73 pct. The average interest rate on corporate loans with a defined maturity at a floating rate on loans of up to 250,000 increased by 47 basis points to 6.11 pct, on loans of over 250,000 and up to 1 million euros remained almost unchanged at 5.17 pct and on loans of over 1 million decreased by 30 basis points to 4.68 pct. Finally, the average interest rate on housing loans at a floating rate increased by 57 basis points to 2.97 pct.
The average interest rate on outstanding amounts of deposits placed by households with an agreed maturity of up to 2 years remained almost unchanged at 1.88 pct. The corresponding rate on deposits placed by non-financial corporations remained also almost unchanged at 1.84 pct. The average interest rates on outstanding amounts of housing loans, corporate loans and loans to sole proprietors with over 5 years’ maturity remained almost unchanged at 2.83 pct, 4.23 pct and 5.21 pct respectively.
