In may, some major banks have increased the yield of dollar deposits, mainly long-term deposits, writes the newspaper “Vedomosti”. “Sberbank” in the beginning of the month raised the stakes in retail dollar deposits for a period of three years by 0.2 percentage points (PP) to 0,8-1,65% per annum (excluding interest capitalization) while simultaneously reducing the rate of investment from six months to three years 0,05-0,35 PP
“Alfa-Bank” in the beginning of this week increased all dollar rates by 0.3 percentage points regardless of the length. Now the maximum rate in the Bank is 1.85% per annum (with 100 thousand dollars for three years).
“MTS Bank” increased rates of contributions by year, by 0.3-0.6 percentage points and the maximum now stands at 1.6% per annum by investing 20 thousand dollars in two years.
Among the smaller banks increased interest rates, such banks as “Banca Intesa” (by 0.1-0.2 p. p.) and “international Bank of Saint-Petersburg” (0.2% of 547 days).
Reduced in may the dollar rate, only those banks, where they remained significantly above average over 2% per annum. So, “SMP Bank” this week reduced the rate from 2.1 to 1.85% per annum, and “trust” on deposits for VIP clients – 0,2-0,35 PP to 1.65 to 2.25% per annum.
VTB, VTB24, Binbank, ROSBANK, “OTP Bank” and “Svyaz-Bank”, according to the publication, in the near term to raise rates on foreign currency deposits do not plan to.
Experts believe that yield growth will continue, but will not be too fast. So, the head of the unit “Treasury” of “Alfa-Bank” Igor Knyazev explains the increase in rates with your Bank increase the dollar rates in the United States and expectations that the Federal reserve system (fed), which in March raised the rate by 0.25 percentage points to 0.75-1% per annum, will continue to increase.
“A period of declining rates in the U.S. in our country ended, and began a cycle of increasing”, – the expert believes.
According to analysts, a further increase in the discount rate of the Federal reserve, and with it the yield of dollar assets may lead to a minor increase in the rate of deposits in dollars. Banks that have not yet adjusted the rates, at the current exchange rate will raise them to between 0.2-0.7 percentage points to the end of the year.
Most customers interesting deposits in rubles, said the Chairman of “Svyaz-Bank” Sergey Malyshev. The yield of ruble deposits in the largest Russian banks for the period from 10 April to 10 may continued to decline and renewed its historical minimum. The yield on one-year deposits on average declined by 0.15 percentage points to 7.29% APR.
The interest on dollar deposits has declined from the peak the end of 2014 until December last year. Banks one after another, reduced rates, and as a result, according to estimates of the Central Bank, the weighted average rate of deposits for a period of one year fell from 5.56 to 0.77% per annum, and more than a year from 5.36 to 1.4%.