Interest rates on loans and new business of deposits with agreed maturity of euro area credit institutions to euro area residents published by the European Central Bank (ECB) show that at the end of the year, loan interest rates in Lithuania remained among the highest, but the situation was better than in September 2023 compared to other euro area countries.
The central bank also observed that interest rates on household deposits with agreed maturity increased between September and December 2023 in Lithuania, but those to non-financial corporations fell, remaining below the euro area average.
According to the report, interest rates on loans granted by credit institutions operating in Lithuania to non-financial corporations narrowed by 0.08 percentage points in three months to 6.35%, their euro area average went up by 0.1 percentage points to 5.15%. Lithuania moved to the second position, preceded by Estonia.
Meanwhile, interest rates on loans for house purchase granted by credit institutions operating in Lithuania to households decreased by 0.18 percentage points in three months to 5.62%, and their euro area average went up by 0.7 percentage points, amounting to 4.00%. Lithuania moved one position down, from the second to the third.
Interest rates on loans for consumption granted by credit institutions operating in Lithuania to households increased by 0.04 percentage points in three months to 9.68%, their euro area average went down by 0.18 percentage points to 7.70%. Lithuania moved from the fourth to the fifth position.
The analysis showed that interest rates on loans for other purposes granted by credit institutions operating in Lithuania to households rose by 0.44 percentage points in three months to 7.98%, their euro area average went down by 0.11 percentage points to 5.28%. Lithuania retained the second position among euro area countries in terms of interest rates.
The Bank of Lithuania said that interest rates on deposits with agreed maturity of non-financial corporations held with credit institutions operating in Lithuania decreased by 0.07 percentage points in three months to 3.41%, and their euro area average went up by 0.13 percentage points to 3.72%. Lithuania moved down from the tenth to the fourteenth position in terms of interest rates.
Interest rates on household deposits with agreed maturity held with credit institutions operating in Lithuania rose by 0.08 percentage points in three months to 3.53%, and their euro area average went up by 0.21 percentage points to 3.29%. Lithuania moved up two positions to the fourth position among euro area countries.
