Photo - © Mediastok.ru. Since the end of June
Photo - © Mediastok.ru. Since the end of June, Russia's largest banks have begun raising rates on short-term deposits and welcome bonuses.
Consensus
- Major Russian banks increased interest rates on short-term deposits starting in late June.
- The increase was aimed at attracting new customers and competing for client funds.
- The changes followed the Central Bank of Russia's decision to lower its key rate by 0.25 percentage points on June 19.
- The focus of the rate increases was primarily on deposits with terms up to three months.
- These deposits were targeted at new clients or funds not previously held in the bank for over a year.
Points of divergence
- Alfa Bank introduced a new deposit with a 20% annual interest rate for customers opening it in bank branches. — riamo
- The average maximum interest rate on deposits in the ten largest banks reached 12.79% in early July, up by 0.03 percentage points from late June. — vedomosti
- The average interest rate on three-month deposits rose to 13.5% annually by July 3, compared to 13.44% on June 19. — m24
Coverage (6 sources)
- Major Banks Raise Rates on Short-Term Deposits — РИАМО
- Major banks raise rates on short-term deposits — Коммерсантъ
- Central Bank: Maximum deposit rates in banks have slightly increased — Ведомости
- Banks began to worsen terms for market mortgages — Коммерсантъ
- RIA Novosti: Banks in Russia raised rates on short-term deposits — Москва 24
- Average rate on two-year deposits fell below 11% — Ведомости
Key entities
- Russia
- RIA Novosti
- CB
- Bank of Russia
- Sovcombank
- Gazprombank
- DOM.RF
- FinUslug
- Elvira Nabiyullina
- Central Bank
- Alpha-Bank
- Commerzant
- Alexey Sukhorukov
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