Last week, the depositors of the savings Bank of Russia received a “gift” – the Bank has lowered rates on ruble and dollar deposits.
The Bank explained its decision, “the General trend of a fall in interest rates on deposits of natural persons in the market.” In the result of rates on foreign currency deposits fell to almost zero, and on the rouble – 7.3%. Experts believe that the example of the largest lender of the country will be contagious – other banks after the savings Bank will also lower interest on deposits.
The news is very unpleasant, especially when you consider that the yield of deposits in domestic banks is so low. In early April a dozen of the biggest banks have already dropped rates to the level of October 2014
The decrease in interest on deposits, of course, will not bolster confidence in banks, which, according to sociologists, today, and so evaporate like puddles in the sun.
The survey of Fund “Public opinion” (FOM) showed that for 1.5 months of those who consider Bank deposits reliable, was less than 6% (the share declined from 42 to 36%). The proportion who consider their best fell from 30 to 23%. The number of those who believed that contact with banks is not profitable, grew from 44 to 47%.
Instead of Bank deposits, citizens increasingly prefer to keep their money at home. Reducing interest rates on deposits, banks do run the risk of losing depositors.
However, apparently, the bankers, that’s not very disturbing. Maybe they think that the state if anything throws of budget money on the maintenance of the credit and financial system, as did more than once.
But as they say, to whom war and to whom mother native. The depositors have sorrow from those who serve them, is a joy. According to the Central Bank, in the first quarter of this year, banks spent on staff wages 238,7 billion – almost 15% more than the same period last year.
