MINSK, 18 November (BelTA) – Term ruble deposits of individuals exceeded Br14.2 billion as of 1 November, having increased by Br424.4 million in October, BelTA learned from the press service of the National Bank.
“The current level of interest rates in both the deposit and credit markets drove the inflow of funds into the banking system and sustained lending activity throughout the economy,” the National Bank noted.
In October, the average interest rate on new term deposits of individuals in Belarusian rubles was 12.7% per annum, including 14.8% per annum for terms of over one year.
“The attractive level of interest rates on long-term deposits helped banks maintain their resource base and also allowed them to meet the economy’s needs for credit resources,” the press service pointed out.
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