Banks' interest transactions - zackzack.at

zackzack.at

Banks' interest transactions - zackzack.at

In September 2023, the European Central Bank (ECB) increased the benchmark interest rate to a record high of 4.5%. Banks have been receiving 4% interest on their deposits at the ECB since then. This resulted in billion-dollar payouts to shareholders. Austrian banks report billion-dollar profits. A total of 14.1 billion euros was earned in 2023. The increase in banking sector profits is the third highest in Europe as a whole. The high deposit int…