The interest rate spread between loan and deposit rates increased by 19 basis points to 4.53 pct in December, the Bank of Greece announced.
In a monthly report, the central bank said that in December 2015, the overall weighted average interest rate on new deposits remained almost unchanged, while the corresponding rate on loans increased. The overall weighted average interest rate on all new deposits remained almost unchanged at 0.56 pct. In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.15 pct and the respective rate on deposits by non-financial corporations remained almost unchanged at 0.19 pct. The average interest rate on deposits placed by households with an agreed maturity of up to one year also remained almost unchanged at 1.02 pct, in December 2015.
The overall weighted average interest rate on all new loans to households and corporations increased by 17 basis points from the previous month to 5.09 pct.
Average interest rate
More specifically, the average interest rate on consumer loans without a defined maturity (a category which comprises credit cards, open account loans and overdrafts) remained almost unchanged at 14.61 pct. The average interest rate on consumer loans at a floating rate increased by 73 basis points to 7.89 pct.
The average interest rates on corporate loans and loans to sole proprietors without a defined maturity remained almost unchanged at 6.05 pct and 7.48 pct respectively. The average interest rate on corporate loans with a defined maturity at a floating rate increased by 15 basis points to 5.21 pct. Finally, the average interest rate on housing loans at a floating rate increased by 23 basis points to 2.69 pct.
In December 2015, the overall weighted average interest rate on the outstanding amounts of all deposits decreased, while the corresponding rate on all loans remained almost unchanged. The spread between loan and deposit rates stood at 4.49 percentage points compared with 4.46 percentage points in the previous month.
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