Interests on deposits going up

Banking interests are expected to go down again early in the second quarter, but, for now, there is still enough room for a new increase in rates. However, the rise will only apply to deposits and not credits. Or at least this is what can be gathered from the latest moves made by many banks over the last seven days, which increased interests on ROL deposits by up to one percentage point or even more. Banca Transilvania, Banca Romaneasca, Piraeus Bank, Carpatica and Miro Bank have recently announced increases of about one percentage point in the interests on deposits attracted for more than six months. No move from the top players on the retail market yet. The banks, however, are still unable to persuade their clients to go for longer maturities, of over one year, which, in the course of time. The most generous banks are now offering 17% annual interests on deposits attracted for one month, while the one-year maturities see interests up to 18%. The average of the market revolves around 14.5%-16.5%, with rates varying greatly between various banks partly because of the deposit making terms. ZF