2023-11-08
To ensure market transparency and comparability with the euro area, the Bank of Lithuania published a comparison of interest rates on loans and deposits in September 2023: Lithuania and the euro area
The Bank of Lithuania published a comparison of interest rates on loans of Lithuanian and euro area credit institutions (banks, credit unions) and deposits with agreed maturity (term deposits). Charts include euro area countries whose data are published on the website of the European Central Bank (ECB). Find more detailed data on the ECB Data Portal.
Interest rates1 on new business2 of loans and deposits with agreed maturity of euro area credit institutions for euro area residents published by the ECB show that:
- between June and September 2023, interest rates on both loans and deposits with agreed maturity increased in Lithuania and the euro area;
- interest rates on loans in Lithuania in September 2023 remain among the highest;
- from June to September 2023, interest rates on deposits with agreed maturity rose at a slower pace than in other euro area countries, with sharp increases in interest rates on deposits in Lithuania in the first half of 2023;
- in three months,3 interest rates on loans granted by Lithuanian and euro area credit institutions to non-financial corporations increased by 0.36 percentage points and 0.27 percentage points respectively, to 6.43% and 5.05% respectively (see Chart 1);
| Chart 1. Interest rates on and volumes of new business of loans to non-financial corporations |
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- interest rates on loans to households for house purchase by Lithuanian and euro area credit institutions increased by 0.22 percentage points and 0.17 percentage points respectively in three months, to 5.8% and 3.93% respectively (see Chart 2);
| Chart 2. Interest rates on and volumes of new business of household loans for house purchase |
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- interest rates on loans to households for consumption by Lithuanian and euro area credit institutions increased by 0.19 percentage points and 0.44 percentage points respectively in three months, to stand at 9.64% and 7.86% respectively (see Chart 3);
| Chart 3. Interest rates on and volumes of new business of household loans for consumption |
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- interest rates on loans to households for other purposes by Lithuanian and euro area credit institutions increased by 0.02 percentage points and 0.33 percentage points respectively in three months, to 7.54% and 5.39% respectively (see Chart 4);
| Chart 4. Interest rates on and volumes of new business of household loans for other purposes |
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- interest rates on non-financial corporation deposits with agreed maturity with Lithuanian and euro area credit institutions went up by 0.24 percentage points and 0.38 percentage points in three months, to stand at 3.48% and 3.58% (see Chart 5);
| Chart 5. Interest rates on and volumes of new business of non-financial corporation deposits with agreed maturity |
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- interest rates on household deposits with agreed maturity with Lithuanian and euro area credit institutions rose by 0.19 percentage points and 0.38 percentage points respectively in three months, to 3.45% and 3.08% respectively (see Chart 6).
| Chart 6. Interest rates on and volumes of new business of household deposits with agreed maturity |
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1 Weighted interest rates on new business during the reporting month, in percentages per annum.
2 New business covers financial contracts that specify for the first time the interest rate on a loan or the deposit rate, and contracts for existing loans or deposits, which were renegotiated. New business does not cover revolving loans and overdrafts, as well as credit card debt. New business deposits do not cover automatic renegotiations of existing deposit contracts.
3 Comparison of data of June and September 2023.
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