BoG: Loan to deposit spread drops in March

Tuesday, May 9th, 2017
Last Update: 10:11

Interest rates on deposits were stable m/m at the end of March, while loan rates were lower, according to Bank of Greece data.Specifically, the average deposit rate was stable on both new and existing balances at 0.31% and 0.32% respectively, while loan rates were lower by 5bps on both new and existing balances at 4.47% and 4.72% respectively.

As a result, the loan to deposit spread was lower compared to February on existing balances by 5bps while it was lower for a second consecutive month in new balances by 5bps m/m, after a 23bps decline in February.

The aforementioned trends suggest that further deposit repricing should not be easy, at least in the short term, while loan rates remain on a downward path exerting some pressure on margins.

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