Every second major bank reduced deposit rates after the Central Bank meeting

Half of the 20 largest banks, including Sber and Gazprombank, reduced deposit rates in the week after the Central Bank meeting, the press service of the financial marketplace Finuservices told Izvestia. The yield on deposits with terms of three to 12 months decreased by 0.3% on average.

No more bets: 14 Russian banks reduced deposit yields

Financiers decided not to wait for the Central Bank's next decision on the key rate

In "Finuslugi" noted that the strongest fell yield on annual deposits - almost 0.5 p.p. in eight banks. It fell to 20.8% and became below the level of the key rate. More favorable conditions still guarantee savings for six months - slightly above 21%.

At the same time, as added in "Finusluga", for the entire month of February deposit rates fell in 15 banks from the top 20, even before the meeting of the Central Bank. In particular, according to "Izvestia", yields were reduced by "Alfa", Gazprombank, MKB, bank "Dom.RF". In addition, from February 22, "Sber" reduced deposit rates by 0.5 p.p., specified "Izvestia" in the press service of the company.

Banks do not count on the growth of the key rate and no longer lay this scenario in the cost of their products, concluded the director of the Department of retail business "Digital Bank" Yuri Eidinov. According to him, that is why organizations have begun to smoothly reduce the attractiveness of savings products. Analyst FG "Finam" Igor Dodonov emphasized that the peak of rates on bank deposits in Russia has passed.

Read more in the exclusive material of "Izvestia":

Interest expense: every second major bank has reduced deposit rates