OREANDA-NEWS. November 21, 2011. The strategy of any bank on attraction of resources depends on several indicators: current market conditions, cost of alternative funding sources and the latest position on liquidity. This opinion was shared by Alla Shulha, Deputy Chairman of the Management Board, Kreditprombank, when she commented the recent increase by the bank of the interest rates of term deposit "Classic", reported the press-centre of Kreditprombank.

"The increase of interest rates on deposits in the country’s banking sector had place due to the current shortage of resources. Major banks performed payments on their current liabilities. At the same time at the end of the year the demand from enterprises and retail customers for credit resources traditionally increases. Respectively, the banks have to accumulate in a short period sufficient volume of funds. Such seasonality leads to the reasonable increase of interest rates in particular on short-term deposits", - notes Alla Shulha. – "The situation in the interbank market is an important factor: the balance of funds on the banks’ correspondent accounts reduced, the rates on interbank loans increased. All together it promoted to the increase of the interest rates on deposits", - underlines she.

Therefore, present level of interest rates on deposits established by Kreditprombank is the adequate response to the current market conditions.

As a reminder, interest rate on deposit "Classic" from Kreditprombank placed in the national currency for the term in 3 months was increased up to 20% per annum. For deposits in USD and EUR it makes 8% and 6.5% per annum respectively. The interest payment is performed at the end of deposit term. In addition, Kreditprombank also considerably increased the interest rates on deposit "Classic" for various other terms – from one month to two years.