Webster Financial Corporation announced a reduction in its prime lending rate to 7.75 percent. This change is effective as of November 8, 2024. The previous prime lending rate was 8.00 percent.
This adjustment reflects Webster Bank's response to prevailing market conditions and its strategy for commercial and consumer lending. The prime rate serves as a benchmark for various loan products offered by the bank.
Webster Bank, with $79 billion in assets, provides a wide range of financial solutions across Commercial Banking, Consumer Banking, and Healthcare Financial Services. Changes to the prime lending rate influence the bank's interest income and the cost of credit for its clients.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.