Russian Banks

October 17, 2011

Absolute priority anti-crisis measures is the fulfillment of social obligations of state to the population in its entirety, will be activated by domestic demand and innovation, develop an industrial and technological potential, much attention will be given energy efficiency. In order to prevent massive layoffs and loss of productive capacity will be gained monitored the situation in enterprises that are key to the Russian economy. Economic policy will move toward a coherent modernization, a more stable and diversified structure. There is a view of the fact that Russia will gradually recover from the extremely raw orientation, developing industries such as pharmaceuticals, nanotechnology, and so on. – You mentioned lowering the refinancing rate as a measure of crisis management.

What is the consequence will be the measure for Russian banks? – Reduced rates on deposits as a consequence of reducing the refinancing rate is dangerous for small banks. Large banks such measure does not scare off the investors, who, as a rule, when choosing a bank oriented not on the profitability and stability. And for smaller banks that are experiencing problems with attracting resources and in this regard are betting on a high level of promised returns, reducing refinancing can be critical. Therefore, to keep clients, some banks will take a policy of raising interest rates on deposits. But this policy also has its own nuances. The fact that the difference in rates (in excess of rates on deposits of more than of the refinancing), paid income tax on the resulting material benefit.

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