The largest banks plan to significantly cut the profitability of deposits


Крупнейшие банки планируют заметно урезать доходность депозитов

Next month the largest banks reduce rates on deposits. As a result, the yield of deposits will decrease on average by 0.25 percentage points to 5.75 to 6.25%. Now the average rate on deposits amount to 6-6,5% per annum.

About the upcoming reduction of interest rates by bankers and experts have informed “news” in the survey conducted following the meeting of the Board of Directors of the Central Bank’s monetary policy, decided to reduce the key interest rate by 0.25 percentage points. In Sovcombank plans to lower Deposit rates by 0.3 percentage points, the Ural Bank for reconstruction and development will reduce the returns on deposits by 0.25-0.5 p. p.

Mail Bank is not planning to reduce interest rates on deposits significantly. In HCF-Bank expects the reduction in interest rates on deposits will continue to occur smoothly.

By the end of the year interest rates on deposits will drop in average by 1 p. p., predicts the Director of the center for macroeconomic forecasting of the Bank Natalia Shilova. In her opinion, short deposits will become less profitable even at 1-1,5 percentage points and contributions over the years – 0.5-1 p. p. the Expert believes that this will happen, in particular, by further easing monetary policy (DCT). She expects the Central Bank will lower the key rate to 6.5-6.75 percent by year-end.

A small correction in the key rate will lead to comparable cheaper loans, said Deputy Director of the Institute of national economic forecasting, Alexander Shirov. He believes that Deposit rates will fall faster than lending rates, as the market responds faster to the reduction of the key rate reduction in the profitability of deposits due to excess liquidity in the market. According to the Central Bank, at the end of 2017 it will exceed 2 trillion rubles.

If the Deposit rates will go down in March, the correction of credit interest rate will last a little longer, says a leading expert of the Center for economic forecasting of Gazprombank Maxim petronevich.He recalled that banks actively reduced interest rates on loans in the past year, and the marginality of their business fell, so now they will do it accurately. In Bank expect that in a year the price of unsecured loans will decrease by a total of 1.5-2.5 p. p., and mortgage – 1 PP


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