Piraeus Bank, a medium-sized player on the retail segment now offers an annual interest rate of 10.5% for three-month deposits. The bank, however, requires that such deposits be new, as the revised interest rate does not apply to existing deposits. Piraeus has even individualised this product, with the 10.5% interest per annum offered as "Depozitul Star". The Greeks' move comes just days after the NBR increased the monetary policy rate to 9.5% a year. Prior to the decision of the central bank, the highest interests the banks paid would stop at 9.1% and 9.2% a year. It remains to be seen whether the other banks will now choose to take their interests towards 10% a year. The market is feeling stronger and stronger competition to attract resources from clients, given that some players need cash after years of aggressive lending. Some banks like Raiffeisen, Bancpost and UniCredit Tiriac chose to build hybrid products - deposits combined with investment fund units, trying to persuade clients to save more with the prospect of higher yields. Still, interests paid on deposits vary a great deal from one bank to the next, given that players have different funding strategies.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
