M&T Increases Prime Rate
Effective November 3, 2022, M&T Bank (NYSE: MTB) will raise its prime lending rate from 6.25% to 7.00%. This increase reflects ongoing adjustments in response to economic conditions. M&T Bank, headquartered in Buffalo, New York, serves customers across 12 eastern U.S. states and offers trust-related services through its Wilmington Trust-affiliated companies.
- Adjustment in lending rates may indicate a proactive approach to changing economic conditions.
- The increase in the prime rate could lead to higher borrowing costs for consumers and businesses, potentially impacting loan demand.
BUFFALO, N.Y., Nov. 2, 2022 /PRNewswire/ -- Effective Thursday, November 3, 2022, M&T Bank (NYSE: MTB) will increase its prime lending rate from
About M&T Bank
M&T Bank Corporation 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.
© 2022 M&T Bank. Member FDIC.
Media Contact:
Maya Dillon
646-735-1958
mdillon@wilmingtontrust.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/mt-increases-prime-rate-301666741.html
SOURCE M&T Bank
FAQ
When will M&T Bank increase its prime lending rate?
What will M&T Bank's new prime lending rate be?
Why is M&T Bank increasing its prime lending rate?
What is the current prime lending rate for M&T Bank before the increase?
How does the prime lending rate affect M&T Bank customers?
