Two small banks with Greek shareholders, Emporiki and ATE Bank,have increased interest rate margins on new RON andeuro-denominated loans for individuals by up to two percentagepoints this week, after in the past they had come up with offersmeant to attract customers.
Representatives of the two lending institutions did not commenton the decisions to increase interest rates by the time this issuewas ready for print.
This is a new step that bankers are taking towards making loansmore expensive in their bid to make additional revenues to coverlosses from non-performing loans, as well as amid expectations tosee a rise in financing costs. The two banks in fact payupper-level interest rates on deposits.
Emporiki boosted the interest rate margin on consumer loans notsecured by a mortgage by two percent, to 12.5% above three-monthEuribor.
ATE Bank boosted the interest rates on mortgage-backed consumerloans by up to two percent, with the current margins being 5.5%above six-month Robor and 8.2% above six-month Euribor.
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