Banks focus on private customers’ liabilities again, URSA Bank reports

22 August 2008 (07:45)

‘The current interest in this or that way of attracting investment depends on the existing market opportunities. At the moment, foreign financial resources grow increasingly expensive, so the number of companies which can afford to use them is dropping. As a result, more and more banks find themselves focusing on the household savings and private customers’ liabilities once again,’ URSA Bank’s Ural branch’s Vice President Alexei Sannikov said to an UrBC reporter.

The bank executive feels the banks’ efforts in this field are quite obvious:

‘One cannot help noticing the surge of advertising activity as banks are competing more and more fiercely through offering greater interest rates on deposits and more advantageous deposit terms. A little while ago, people only used to grow excited about putting their money into a bank around New Year; this was the time when new deposit types and special offers were traditionally launched. Now, however, banks keep coming up with something new to entice their customers with all the year round,’ Sannikov explained.

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