Greece's four largest banks will absorb any further interest rate hikes on mortgage loans for 12 months from May to help households cope with rising housing costs, two banks and the country's finance minister said on Tuesday.
Greek household incomes have faced a sharp squeeze after a series of interest rate hikes by the European Central Bank since July resulted in a rise of about 10%-25% in monthly mortgage loan payments.
Piraeus Bank (BOPr.AT) and Eurobank (EURBr.AT) said they would freeze their floating interest rates on outstanding mortgage loans from next month to April 2024, by referencing them on March's Euribor rate minus 20 basis points.
Finance Minister Christos Staikouras told Real FM radio that National Bank of Greece (NBGr.AT) and Alpha Bank (ACBr.AT) were expected to announce similar moves to stabilize the borrowers monthly payments to existing levels.
Source https://www.reuters.com/
After Paula Badosa's semifinal loss at the 2025 Australian Open, she reflected on her journey…
Archaeologists in Turkey have unearthed around 2,000 pieces of bronze statues in an ancient scrapyard…
A viral social media post has ignited rumors of a romantic relationship between Jennifer Aniston…
On Thursday, U.S. President Donald Trump announced the formation of a dedicated cryptocurrency working group…
Kimberly Guilfoyle, the U.S. Ambassador to Greece-designate, was honored at an event in Washington, D.C.,…
In a stunning revelation, former President Donald Trump has reportedly signed an order to declassify…