Sberbank’s share on the market of deposits is reduced
As Sergey Ignatyev, head of the Central Bank of the Russian Federation, declared on September, 9, 2009, private deposits in Russian banks in August, according to preliminary figures, have grown by 1.4 percent (in nominal terms). Thus, according to Sergey Ignatyev's estimation, as of September, 1, the volume of private deposits all over the Russian banking system has totaled approximately 6.7 billion roubles. According to Sberbank of Russia, as of September, 1, 2009, its depositary portfolio has totaled 3.33 billion roubles. Thus, its share in a total volume of private deposits has reduced to 49.7 percent. In July, 2009 Sberbank’s share was 50.4 percent.
Alexander Morozov, a member of Management Board of Sberbank of Russia, said, that the bank has consciously agreed to some decrease of our share on the market of private deposits, having lowered rates in the spring-summer of 2009. We would remind you, that on July, 1, 2009, the largest bank of the country declared its deposit rates decrease approximately by one percent point.
According to market player opinion, the share of Sberbank of Russia has been decreased owing to deposit redistribution among other banks from TOP-10, which have not followed the lead of Sberbank and have kept rates at former level. So, the maximum bank deposit rates at the majority of large banks are 14.5–15 percent, while in Sberbank – 13.25 percent.