Deposits prescribed returns

Experts BDO Unicon believe that if the savings decomposed equally to deposits in different currencies, then we can earn about 15% per annum. Autumn outflow of deposits, when investors were taken from the banks about 6% of total deposits, or about 360 billion rubles. Forced the Russian banks continue to raise interest rates on deposits. In December rates on deposits of natural persons has made it more appealing the order of 25-30 banks, including Alfa Bank, VTB 24, UniCredit Bank, Russian Standard, Raiffeisen Bank, Agricultural Bank, Uralsib, Gazprombank, and others. At the market peak rates on ruble deposits reach 15,5-17% annual, in dollars - 13-14%, in euro - 12-13,5%. The next year, according to market participants, the upward trend in profitability of bank deposits will continue, but not for all types of currencies. According to Deputy CEO of Absolut Bank Oleg Skvortsov, possibly raising interest rates on ruble deposits. "Banks will encourage the involvement of ruble deposits is to avoid bias due to the currently existing popularity of foreign currency deposits, - says Oleg Skvortsov. - Also on the change in interest rates on deposits in that currency may affect change in the Bank of Russia refinancing rate. According to him, expect a significant increase of rates on deposits in foreign currency is not worth it. "In order not to frighten the citizens that take the ruble savings into foreign currency, banks will keep the high rates on foreign currency deposits at the beginning of the year - said deputy chairman of the board of bank" Revival "Oleksandr Dolgopolov. - But later, from mid-first quarter, can be expected to reduce rates on foreign currency deposits. According to him, the banks will do so in order to reduce currency risks arising from the growth of currency in liabilities and, conversely, reducing the currency of the assets: the latter will occur because of the fact that citizens will begin to convert foreign currency denominated loans. Despite the rise in interest rates on ruble deposits, bankers expect inflows into deposits more currencies rather than rubles. "If there are no legal restrictions will be imposed, citizens, unfortunately, will continue to go from rubles into foreign currency, foreign currency deposits to open it" - said the head of retail business Swedbank Alexey Aksenov. According to him, the increase in foreign currency deposits will be subject to the devaluation of the ruble will continue, whatever it was - smooth or sharp. "It is possible that individual banks' share of foreign currency deposits in the liabilities over time will exceed 50%," stressed Mr. Aksenov. According to the Head of Retail Business Alfa-bank Alexey Marey, citizens will also share exchange savings, opening deposits both in dollars and euros. "In sharp fluctuations of the dollar deposits in euros will rise, - says Mr. Marey. - While earlier contributions to the euro were very minor." To avoid sudden losses, the experts recommend to keep savings in different currencies. Bank of Russia is committed to the devaluation of the ruble, it will continue into the coming year, predicts the Center for Macroeconomic Research at BDO Unicon. Exchange rate dynamics in the coming year will be particularly interesting in terms of choice of currency for savings, according to a review of BDO Unicon. Now when placing funds on deposit in rubles for a year leading banks are offering interest rates at a level of 10-13% per annum for the dollar and euro interest rates are at the level of 5-7,5% per annum. "The expected growth of the dollar against the ruble is in the range from 2 to 14%, while the European currencies against the ruble may rise by between 5 to 15% - according to the study of BDO Unicon." - So, on dollar deposits ruble profit for 2009 could range from 7 to 21.5% per annum for deposits in euros - from 10 to 22,5% per annum. " If the savings expand equally on deposit in various foreign currencies, you can get about 15% of annual income in rubles, that adjusted for the effects of purchase and sale of foreign currency is close to the yield of annual deposits in rubles, the expert concluded, "Unicon".