Credits chased contributions

Sberbank and VTB-24 started the year with increasing interest rates on deposits of citizens, supporting the tendency outlined on the market in the fall. In the near future in order to preserve the profitability of businesses, banks will have to either reduce deposit rates or increase - for credit, and the Savings Bank has already announced that he would go the second way.

About that time the banks raise interest rates on deposits of individuals may end soon, yesterday, said the director of investment management and investment products to individuals Savings Dmitry Oguryaev. "Maybe by the middle of this year, a trend towards lower rates in the market," - he suggested.

In recent months the rates on deposits only grew. The arithmetic mean of the maximum rates on ruble deposits top 10 banks in terms of citizens' deposits from the middle of June 2011 until the second decade of January increased from 7.85% to 9.47%. In early January, Sberbank raised the rate on ruble deposits an average of one percentage point, the maximum rate now stands at 8% per annum (see "Kommersant" on 17 January). Prior to that, the rate increased bank in November last year - to 7.25%. Similarly, he entered and the second largest retail deposit VTB 24, yesterday increased the maximum rate on ruble deposits to 8.2% per annum. "Contrary to our initial assessment of the situation with interest rates on deposits - that they rise in the new year would not have occurred otherwise, - says the Deputy Director General of the Deposit Insurance Agency Andrei Melnikov .- Now we can expect that the flagship example will be followed by other players."

Meanwhile, the continuously increasing interest rates on deposits and maintaining the same level interest rates on loans, banks may in the near future to face with a reduction in interest margins. Sberbank plans to leave the situation, gradually increasing interest rates on loans, said yesterday at the Davos Economic Forum, Sberbank CEO German Gref. "The stakes are all interrelated. If rates rise in the passive part, they are growing and active part. Four or five months ago, we gave out a mortgage at 8% per annum for eight years, and today we have a bid to attract - 8%. Of course, this is done is impossible. Of course, we will gradually raise rates on loans to individuals "- quoted by Mr. Gref," RIA Novosti ".

Experts do not exclude that in the same way the other players go, rather than on ways to reduce interest rates on deposits. "As the growth of retail deposits is relatively slow, we do not expect lower interest rates on deposits of individuals - at least until the middle of this year, even if banks fully suspend the increase in lending," - said analyst Denis Raiffeisenbank Poryvai. "We still forecast a rise in average interest rates on deposits of individuals throughout 2012, the gradual decline - only since 2014," - said Alfa Bank analyst Eldar Vagabov. "Do raise interest rates on loans other banks, depending on their stock on margin" - indicates Mr. Melnikov.