OREANDA-NEWS. July 28, 2008. AB Parex Bankas increases the interest rate on time deposits in litas, euros, and US dollars, reported the press-centre of Parex Bankas.

The bank will pay the 7 per cent interest rate on a two-year time deposit in litas, which is higher by 0,25 percentage points than the bank has offered to date.

The interest rate on a two-year time deposit in US dollars will be increased by the same percentage points to 3,80 per cent. The bank will pay the interest rate of 5,80 percent on a two-year time deposit in euros, which is as much as 0,73 percentage points higher.

“We are increasing the interest rate taking into account the changes ongoing in Lithuania and international financial markets, and evaluating the increased basic interest rate in Europe. We seek to ensure that our customers receive maximum financial benefit, and that their money is protected from the inflation impact,” comments Skirmantas Jareckas, member of the Board of the bank and Director of Treasury Division.

In 2007, the deposit portfolio of AB PAREX Bankas increased by 65 per cent to LTL 631 million. Within the first half-year of 2008, the deposit portfolio increased by 11 per cent, or LTL 72 million, to LTL 744 million.