Customers slam DNB over modest deposit-rate hikes after central-bank move
After Norges Bank raised its policy rate, DNB increased mortgage rates sharply while only modestly lifting deposit rates, prompting angry complaints from savers.
Following the recent policy-rate increase by Norway's central bank, commercial banks promptly raised mortgage rates but made only limited changes to the interest paid on deposits. DinSide's analysis showed that a single digital bank aligned its savings-rate hike with the loan-rate increase, while other banks offered smaller adjustments. Red Party leader Marie Sneve Martinussen denounced the gap as "systemic greed" and urged the government to intervene to safeguard everyday consumers.
Forbrukerrådet highlighted that banks' profit margins have grown while deposit-rate growth remains subdued, suggesting a misalignment of customer interests. Several banks defended their pricing decisions, citing differing cost structures and competitive pressures. The debate underscores growing scrutiny of banking practices amid rising living costs.
