BUFFALO, N.Y., July 26, 2023 /PRNewswire/ -- Effective Thursday, July 27, 2023, M&T Bank (NYSE:MTB) will increase its prime lending rate from 8.25% to 8.50%.
About M&T Bank
M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
© 2023 M&T Bank. Member FDIC.
Media Contact:
Maya Dillon
(646)735-1958
mdillon@wilmingtontrust.com
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SOURCE M&T Bank Corporation
FAQ
Why is M&T Bank increasing its prime lending rate?
M&T Bank is likely increasing its prime lending rate in response to changes in market conditions, such as inflation or monetary policy, to maintain profitability.
How will the increase in prime lending rate impact borrowers?
Borrowers may face higher borrowing costs, which could affect their ability to take out loans or refinance existing ones.
What does the increase in prime lending rate indicate about the economy?
An increase in the prime lending rate can signify that the economy is growing, but it may also indicate concerns about inflation and the need to control borrowing.
How will the increase in prime lending rate affect M&T Bank's stock performance?
The increase in prime lending rate could potentially lead to increased profitability for M&T Bank, which may have a positive impact on its stock performance.
What are the potential implications of the prime lending rate increase for investors?
Investors should monitor how the increase in prime lending rate affects M&T Bank's financial performance and consider its impact on the overall banking industry.
What are the potential implications of the prime lending rate increase for investors?
Investors should monitor how the increase in prime lending rate affects M&T Bank's financial performance and consider its impact on the overall banking industry.
