The Bank of Greece released its December 2024 statistics on euro-denominated bank deposit and loan interest rates. Weighted average rates on new business were 0.45% for deposits and 5.21% for loans, leaving the spread almost unchanged at 4.76 percentage points, while on outstanding amounts deposit rates were broadly flat at 0.49% and loan rates fell to 5.50%, reducing the spread to 5.01 percentage points. New deposit rates fell from 0.48% to 0.45%, with overnight household and non-financial corporate deposits unchanged at 0.03% and 0.16% respectively; household deposits with agreed maturity up to one year declined by 9 basis points to 1.65% and the corresponding corporate rate held at 2.56%. New loan rates decreased by 6 basis points to 5.21%, including housing loans at a floating rate down 29 basis points to 3.59% and consumer loans with defined maturity at a floating rate down 34 basis points to 11.89%, while consumer loans without defined maturity remained around 15.04%; new corporate loans with defined maturity at a floating rate fell to 4.68% (SMEs: 4.97%) and corporate loans without defined maturity to 5.88%. Outstanding deposit rates included household deposits with agreed maturity up to two years broadly stable at 1.80% and non-financial corporate deposits down 12 basis points to 2.50%; for outstanding loans, housing loans over five years’ maturity eased to 4.20% and corporate loans over five years’ maturity fell to 5.10%. The Bank of Greece notes that “new business” reflects contracts agreed in the month rather than disbursements, and floating-rate loans include those with an initial rate fixation period of up to one year. The next release, covering January 2025, is scheduled for 5 March 2025.

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