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2 Feb, 03:48

Major Russian banks continue lowering interest rates for yuan deposits

Promsvyazbank and the Russian Agricultural Bank lowered interest rates for yuan-denominated deposits by 0.15 - 2.5 percentage points, depending on conditions for depositing, according to Marcs rates monitoring data

MOSCOW, February 2. /TASS/. Promsvyazbank and the Russian Agricultural Bank lowered interest rates for yuan-denominated deposits by 0.15 - 2.5 percentage points (pp), depending on conditions for depositing, according to Marcs rates monitoring data seen by TASS.

Furthermore, Sovcombank also lowered rates for ruble deposits by 0.5-2 pp across all segments, according to Marcs.

VTB, the Credit Bank of Moscow and Alfa-Bank slashed rates for yuan deposits earlier.