Bank of Greece: Lending Rates Decreased in July

According to the Bank of Greece (ΤτΕ), lending rates decreased in July, while deposit rates remained almost unchanged, narrowing the margin between them.

The average weighted interest rate on new deposits remained at 0.34%, while the corresponding rate on new loans decreased to 4.49%. The interest rate margin between new deposits and loans decreased to 4.15 percentage points.

Specifically, the average interest rate on consumer loans without a fixed term remained almost unchanged at 14.65%. The average interest rate on housing loans with a floating rate decreased by 16 basis points to 3.36%.

The average interest rate on new business loans with a specific duration and floating rate decreased by 16 basis points to 3.79%. The average interest rate on fixed-term loans with a floating rate to small and medium-sized enterprises (SMEs) decreased by 17 basis points to 3.98%.