The National Bank for Business Development of Magomed Bilalov has changed its strategy. The bank moved its focus from legal bodies and VIP clients to individuals, Vedomosti reports.
Private deposits worth at least 1 million rubles used to have rates of up to 11% a year. Individuals may now own deposits worth 100,000 rubles and accumulate 11.95% set in June. Deposits worth up to 30,000 get 12.5%, as set in July.
The number of private deposits increased by 19% in May, about 39% in June, 18% in July (average figures of the bank system in Russia were 0.1%, 2.7% and 1.1% respectively). The share of private clients increased from 16-17% in February-April to 30% on August 1.
Besides having the main office in Moscow, a branch in Krasnodar and an office closed in Sochi in early 2013, the bank opened two additional offices and a cashier’s office in the Moscow Region. Two more offices are planned to open in Moscow.
