Sberbank to Raise Deposit Rates as Demand for Cash, FX Soars
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OAO Sberbank, Russia’s biggest lender with nearly half the nation’s deposits, will offer its customers higher interest rates in a bid to retain their savings amid a surge in demand for dollars and euros.
Rates on rubles in savings and checking accounts will rise by a maximum of 2 percentage points and by as much as 3 percentage points for foreign currencies starting tomorrow, the bank’s press service in Moscow said in a statement today.