Those words from Marco Oliveira, a 50-year-old graphic designer from Portugal, underscore a deep lying annoyance in Europe with people bemoaning a lack of return on their savings despite surging interest rates. This, in practice, should translate into higher rates both on mortgages, but also on deposits. The key metric used by analysts is the deposit delta — which represents the increase in policy rates that banks pass through to the interest rates on deposits. For instance, Croatia's deposit delta is 12%, Cyprus is 30% and Portugal stands at 32%. And indeed, Portuguese banks show one of the lowest deposit delta, being the fifth worst in Europe," Teixeira said.

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Persons: Marco Oliveira, Carlos Stilianopoulos, Marta Ferro Teixeira, Teixeira, Nicolas Charnay, Filipe Garcia, Banks, Garcia Organizations: Bank SA, Bloomberg, Getty, CNBC, European Central Bank, ECB, ABN Amro, ABN AMRO, P Global, P, SA, Reuters Locations: Thessaloniki, Greece, Portugal, Europe, Cyprus, France, Italy, Portuguese, Barcelona, Spain, PNL, —