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Deposit rates across the top 10 biggest lending institutions have dropped to an average 9.875 percent, says a press release by the Bank of Russia.
Two weeks ago the rate was as high as 10 percent, and between July and September 2012, the average indicator was even higher.
The Central Bank’s average rate is calculated based on deposits values in Sberbank, VTB24, Bank of Moscow, Raiffaisenbank, Gazprombank, Rosbank, Alfa-Bank, Uralsib, Promsvyazbank and Rosselkhozbank.
Earlier, the Central Bank voiced concern over what it said were overly high deposit rates in Russian banks, citing potential risks.
Author: Mikhail Vesely
