Greek banks have lost a total of 12.8 billion euros in deposits so far this year, with households’ deposits falling by 2.3 billion euros in April to 163.5 billion euros, as announced this week by the Bank of Greece in its monthly report.
In April 2011, the average interest rates on new deposits and loans generally increased, except for the average rate on corporate loans up to one million euro with floating rate or with an initial rate fixation period of up to one year which remained unchanged and the one on housing loans with an initial fixation period of over one and up to five years which decreased, the central bank said in a report.
Specifically, in April 2011, the average interest rate on overnight deposits from households remained basically unchanged at 0.46 per cent, while the corresponding rate on deposits from non-financial corporations decreased by three basis points to 0.38 per cent. On the other hand, the average interest rate on deposits from households with an agreed maturity of up to one year increased significantly by 12 basis points to 3.88 per cent. In the case of loans, the average interest rate on consumer loans without a defined maturity (a category which includes credit card debt, open account loans and debit balances on current accounts) increased slightly in April 2011 by four basis points to 14.74 percent.
The average interest rate on corporate loans without a defined maturity increased by 21 basis points to 7.26 per cent and the corresponding rate on loans to sole proprietors increased by 13 basis points to 9.91 per cent.
The average interest rate on corporate loans with a defined maturity at a floating rate or with an initial rate fixation period of up to one year remained unchanged at 6.46 per cent for loans up to one million euros, while for loans above one million euros it increased by 16 basis points to 5.55 per cent. Finally, the average interest rates on housing loans increased by 21 basis points to 4.25 per cent for loans at a floating rate or with an initial rate fixation period of up to one year but decreased by six basis points to 3.80 per cent for loans with an initial fixation period of over one and up to five years. Source: Athens News