Costly campaign increased Prima Banka’s market share

Last summer, Prima banka and UniCredit Bank began offering a 0.4% rate on mortgage loans. UniCredit increased its rate in November and Prima banka is increasing it now, to 0.5%. Market leaders SLSP, VÚB and Tatra banka, which control 60% of the mortgage market, did not respond to their offers and another round of a price war never materialized. During its campaign, Prima banka managed to increase its market share from 8.8% to 9.4% at the expense of SLSP.

Banks have been selling new mortgages with average rates below 1% since November 2020 and in February, the average stood at 0.94%.

(sme.sk, finsider.sk)