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State banks raise rates on ruble deposits




MOSCOW, April 17 – PRIME. Large banks with state participation began to raise interest rates on ruble deposits, writes VTimes. At Rosselkhozbank, the rate on a three-year deposit has increased to 5.1% per annum. Otkritie Bank raised the rate to 5%. Promsvyazbank’s maximum rate rose to 4.8%. Experts interviewed by the publication believe that the rate hike is due to an increase in the key rate of the Bank of Russia and the expectation that the regulator will continue to raise it. Market participants and the expert community are confident that the Central Bank will raise the rate again on April 23rd. Therefore, large and small banks in the fight for depositors’ money will be forced to raise deposit rates, and they will grow faster than the key rate, analysts admit.

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