Every cloud has a silver lining

Planned Savings Bank rate hike, as loans and on deposits, while other banks have caused a cautious response. However, experts believe that interest rate policy will change in the whole banking system. The fact that rates will rise, the head of Sberbank German Gref said in an interview to Russia 24: "If we're talking about the tendency of interest rates on loans, it is surely that automatically means that will increase deposit rates ... In the coming months, we see a reversal rates. In a little earlier Gref commented on increasing the refinancing rate of Central Bank to 8.25% per annum from May 3: "This is a vector on the rise in the cost of loans, reduced lending activity." Gref also said that Sberbank will be forced to go on raising interest rates in May-July 2011. Rates on corporate loans of the Savings Bank were down from the second quarter of 2009 (14%), and in October 2010 reached a level of 10,6%. In the fourth quarter of 2010, rates rose slightly - to 10.9%. For consumer loans such dynamics in the rates of the Savings Bank was not: the stakes in the same period fluctuated 15,3-14,7%, making for the fourth quarter of 2010, 14.8% per annum. It is known that private banks do not have access to cheap money, have to rely on state-owned banks in their interest rate policy. But now, in post-crisis period, the market there is insufficient demand for credit. Therefore, not the fact that smaller players will aggressively raise interest rates on loans after Sberbank. In an interview with Kommersant predpravleniya bank "Revival" Dmitry Orlov noted that "while global growth rates for reasons I do not see there is still a situation where private banks are running the client." "Today the demand for credit to corporate clients nearly recovered, but the situation in the business of clients had not yet returned to pre-crisis indicators, and possibly raising interest rates will reduce demand", - has agreed with the head of corporate business unit Binbanka Larissa Shvetsov. With regard to individuals, then, for example, the press service of Alfa Bank said portal Bank.ru that in the short-term credit institution to raise rates on retail loans does not plan to. Director, Center for Economic Studies of the Moscow financial-industrial academy Sergei Moiseyev told a Bank.ru commented on the influence of increasing interest rates Savings Bank: "As credit situation does not look that simple. By major borrowers of its rates are "below market" and therefore, the rates of competitors may not be changed. Movement rates for different categories of borrowers may be in different directions. "