Avant are lending at 3.4% for a 30 year fixed mortgage, with 1% cashback.
Avant/Bankinter launch deposit product in Irish market
- Thread starter theresa1
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Very true but they also have a personal loans and credit cards so I'd say they could make a reasonable stab at covering the cost across their loan book.
It's behind a paywall for me but from the headline it doesn't sound like there's been much movement by the sleeping giant that is the household depositor.
Irish deposit volumes ‘not yet relevant’ for Bankinter
www.businesspost.ie
podgerodge
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per the article @skrooge linked to above ................."
“We are building our franchise in Ireland. It is a long-term strategy there.
“Ireland continues to deliver strong growth as we progressively build out our universal banking proposition in the Irish market.”
The bank moved into Ireland in 2018 through the acquisition of AvantCard from investment group Apollo.
Avant Money, which offers credit cards, mortgages and loans, was subsequently merged into the Irish branch of Bankinter last April.
It started offering deposits for customers after the Avant merger and launched 6 and 12-month term deposits in February of this year.
In its second quarter results in July, it said it had taken in almost €100 million in customer deposits. However, it did not reveal how much its deposit base had grown in the third quarter.
Its objective, he said, was to “increasingly fund future lending growth with locally generated deposits”."
“We are building our franchise in Ireland. It is a long-term strategy there.
“Ireland continues to deliver strong growth as we progressively build out our universal banking proposition in the Irish market.”
The bank moved into Ireland in 2018 through the acquisition of AvantCard from investment group Apollo.
Avant Money, which offers credit cards, mortgages and loans, was subsequently merged into the Irish branch of Bankinter last April.
It started offering deposits for customers after the Avant merger and launched 6 and 12-month term deposits in February of this year.
In its second quarter results in July, it said it had taken in almost €100 million in customer deposits. However, it did not reveal how much its deposit base had grown in the third quarter.
Its objective, he said, was to “increasingly fund future lending growth with locally generated deposits”."