OREANDA-NEWS. July 19, 2011. The European Central Bank increased base interest by 0.25% on 7 July and for that reason Sampo Pank raised interest rates of euro deposits, reported the press-centre of Sampo Bank.

For instance, the interest rate of euro deposits with a term of one month was raised by 0.4% to 1.15% instead of the earlier 0.75%. In connection with the increase in interest rates of term deposits, Sampo’s growth deposit interest rate was also raised by 0.35% to 1.00%.

According to Sampo Pank’s Personal and Retail Banking Director Tonu Vanajuur, the bank has to keep up with the prices prevailing in money markets, doing it both during downward as well as upward phases.

“Since 2008 our strategy has been to be the growth leader in the Estonian deposit market and today we are glad to confirm that since that year we have played the role of a market leader in the field of deposit growth. By achieving the best market balance between the deposit and loan portfolio in recent years, we are recognised by clients as a reliable and stable partner who is entrusted with savings,” Vanajuur explained.

The bank also rewards clients who have joined the ISEKAS Loyalty Programme by providing them with an opportunity to choose the additional +0.20% higher interest rate for term deposits compared with effective retail prices.

Sampo Bank carefully monitors money markets and adjusts the prices of its deposits accordingly.