Bank trims ECB-linked loan rates to 2.40 per cent from 2.65 per cent

Hellenic Bank on Wednesday announced a reduction in its base interest rate by 0.33 percentage points, from 1.75 per cent to 1.42 per cent, effective from May 16, 2025.

“This move will benefit the majority of the bank’s borrowers—more than 90,000—by easing their loan repayment terms,” the bank said.

It further stated that this development “actively contributes to better management of borrowing costs for households and businesses, and in turn, supports economic growth”.

In its announcement, Hellenic Bank also mentioned that, following the recent decision by the European Central Bank (ECB) to cut its key interest rates, it has already reduced the reference rates on loans linked to ECB rates.

These rates were lowered from 2.65 per cent to 2.40 per cent, effective from April 23, 2025.

Due to the ECB’s rate reduction, interest rates on loans tied to interbank Euribor rates have also declined.

As a result, around 6,000 borrowers—both businesses and individuals—whose loans are linked to the ECB base rate and Euribor have already benefited from lower financing costs.

“Hellenic Bank is entering a new era as a dynamic member of the Eurobank Group, while remaining steadfast in its commitment to its clients by actively supporting the local economy and offering competitive solutions to individuals and businesses alike,” the announcement concluded.