VTB 24, Russia’s second largest retail bank, says deposits rates for individuals will be increased due to poor bank liquidity, the bank’s head Mikhail Zadornov told Prime.
This explains the rates at the IBC market rising by 1.5-2%.
Some Russian banks raised their deposit rates for individuals in September-October, this mainly involved retail banks. Alpha Bank increased its rate twice in mid-September and early October. Similar activities were reported by Vozrozhdeniye Bank, Master-Bank and Vostochny Express Bank.
