22 Nov 2010 15:50

Deposit rates at top ten Russian banks fall for first time since Sept

MOSCOW. Nov 22 (Interfax) - The top average ruble-deposit rates at Russia's ten leading banks by deposits stayed at 8.46% in the second ten days of November, the Central Bank said.

Rates had held at 8.5% since the beginning of October.

The CB started to monitor deposit rates at the ten banks, which hold around 70% of Russia's personal deposits, in July last year amid concerns about aggressive growth in deposit rates. Rates averaged at 14.85% at the time.

The ten banks that the CB is monitoring are Sberbank , VTB24 , Bank of Moscow , Raiffeisenbank, Gazprombank, Rosbank, Alfa-Bank , Uralsib , Promsvyazbank and MDM Bank.