Deposit policy of a commercial bank Sberbank. Improving the deposit policy of PJSC Sberbank of Russia
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MINISTRIES
FEDERAL STATE BUDGET EDUCATIONAL
ESTABLISHMENT
HIGHER PROFESSIONAL EDUCATION
OMSK STATE INSTITUTE OF SERVICE
COLLEGE "GUIDANCE"
COURSE WORK
by discipline
Finance, money circulation and credit
TOPIC: Improving the deposit policy of Sberbank of Russia PJSC
Made by:3 year student
Prilepa G.A.
Direction:
38.00.00 Economics and Management
Scientific adviser:An Yu.N.
Omsk - 2017
Introduction
Chapter 1. Theoretical aspects of the formation of the deposit policy of commercial banks
1.1 the Concept and classification of deposit operations of a commercial bank
1.2 the Formation of the deposit policy of commercial banks in the banking resources management system
1.3 the legal framework governing deposit operations
Chapter 2. Analysis of the deposit policy of Sberbank of Russia PJSC
2.1 Organizational and economic characteristics of the activities of PJSC Sberbank of Russia
2.2 analysis of deposit operations of PJSC Sberbank of Russia
2.3 Improving the deposit policy of Sberbank of Russia PJSC
Conclusion
List of sources used
Introduction
A certain specificity of banking leaves its mark on the formation of the resources of a commercial bank - its main part is formed by borrowed funds, by attracting funds from the population, organizations and legal entities in the form of deposits (deposits), opening current accounts for legal entities, personal accounts for individuals persons.
The bulk of the banks' resources is formed by attracted funds, which cover up to 90% of the total cash requirements for active banking operations. Attracted by banks funds are diverse in composition. Their main types are funds attracted by banks in the process of working with clients (deposits), funds accumulated by issuing their own debt obligations (deposit and savings certificates).
Attracting money, the bank carries out passive operations, which are necessary for conducting active operations of the bank. Attracting deposits also applies to passive operations of the bank.
Deposits are the main type of resources attracted by commercial banks. Indeed, it is they who disclose the content of the activities of a commercial bank as an intermediary in the acquisition of resources in the free credit market. Therefore, in order to carry out its commercial activities, the bank needs to develop and implement an effective deposit policy that will take into account all the needs and changes of the banking services market.
The relevance of the topic of work is related to the vision of the problems of banks in the formation of the resource base and their effective placement in conditions of unstable inflation and significant fluctuations in the exchange rate of the Russian currency and toughening the requirements of the bodies regulating the banking sector.
The aim of the course is to analyze the deposit policy of Sberbank of Russia PJSC and determine the directions for its improvement.
In accordance with the goal it is necessary to solve the following tasks of the course work:
1. To study the nature and types of deposit operations of banks.
2. To study the procedure for the formation of the deposit policy of a commercial bank.
3. To study the regulatory and legislative framework governing deposit operations in the Russian Federation.
4. Give a description of the activities of PJSC Sberbank of Russia.
5. To analyze the deposit operations of PJSC Sberbank of Russia.
6. To suggest directions for improving deposit operations at Sberbank of Russia PJSC.
Research methods: analysis of economic, legal, statistical sources of literature; empirical method.
The structure of the course work. Course work includes the content, introduction, two chapters, conclusion, list of sources used.
The object of the study is Sberbank of Russia PJSC, the subject is deposit operations and deposit policy of Sberbank of Russia PJSC.
Chapter 1. The theoretical basis for the formation of deposit operations of a commercial bank
1.1 the Concept and classification of depositcommercial bank operations
Deposit operations - this is the operation of banks to raise funds from legal entities and individuals in deposits, either for a specified period or on demand. The subjects of deposit operations are enterprises of all legal forms and individuals. The objects of deposit operations are deposits, i.e. Amounts of funds that depository entities deposit into bank accounts - Demand deposits are funds that can be claimed at any time without prior consent of the bank from the client. These include:
· Funds in current, current, budget and other accounts,
· Related to making settlements or intended use
· Funds;
· Funds in the bank's correspondent account opened with the RCC;
· Funds in the LORO account when establishing correspondent relations with other banks;
· Demand deposits.
Most commercial banks have demand deposits with the largest share in the structure of borrowed funds. This, as a rule, is the cheapest source of banking resources. The ability of the account holder to withdraw funds at any time requires an increased share of highly liquid assets in the bank’s turnover due to a reduction in the share of less liquid, but high-yield assets. Therefore, banks charge a very low interest on balances on demand accounts or do not charge it at all. In some countries, it is generally prohibited by law to charge interest on these deposits, because in the competition for liabilities banks increase interest rates on customer accounts, while trying to prevent a decrease in profits, and solve this problem with risky credit investments that bring increased income, but risky loans negatively affect the liquidity of the bank. Despite the high mobility of funds on demand accounts, it is possible to determine their minimum minimum balance and use it as a stable credit resource.
Demand deposits include correspondent accounts of banks opened with the RCC or correspondent banks for the purpose of making settlements and payments unilaterally or on behalf of each other. Correspondent accounts are divided into two types: NOSTRO (our accounts at the correspondent bank) and LORO (their accounts at our bank). As a rule, when establishing correspondent relations between banks, the parties provide for the possibility of creating an overdraft on these accounts, the maximum amount of which is determined by the terms of the agreement on correspondent relations between banks. The credit balance on NOSTRO and LORO accounts reflects in the balance sheet of the bank the resources received at its disposal from correspondent banks.
Opening and servicing all types of demand accounts provides for the preparation and execution of a contract between the bank and the client. If the account is opened to an individual, then this agreement is called an on-demand bank deposit agreement. For settlement and current accounts of legal entities, a bank account agreement is provided. Both agreements are public and standard for all customers of the bank. In this case, the conclusion of the bank deposit agreement is carried out by the employees of the bank's operational divisions and accounting, and the bank account agreement is carried out by the employees of the passive operations department and the client department of the credit organization. When opening correspondent accounts between banks, an agreement is signed on establishing correspondent relations, on the basis of which the procedure for opening and servicing accounts of this type is carried out. The contract is drawn up and executed by an employee of the interbank lending and correspondent relations department of a commercial bank.
Fixed-term deposits are deposits attracted for a certain term. The amount of remuneration paid to the client on a fixed deposit depends on the term, the amount of the deposit and whether the depositor fulfills the terms of the contract. A firmly indicated shelf life is very important to maintain the liquidity balance of a commercial bank. Of course, this allows banks to accrue increased interest on fixed-term contracts. The amount of the term deposit remains unchanged throughout the term of the contract on the term deposit. It cannot be increased or decreased except by terminating the contract ahead of schedule. But at the same time, the investor is charged interest at a reduced rate or not at all. Time deposits cannot be used for current payments. After the expiration of the term, the deposit may be withdrawn by the depositor at any time.
To increase the interest of depositors in placing their funds, the bank uses various methods of calculating and paying interest. The traditional type of income calculation is simple interest, when the actual deposit balance is used as the basis for calculation and the calculation is based on the interest rate stipulated by the contract.
Another type of income calculation is compound interest (interest on interest). In this case, at the end of the settlement period, the interest is accrued on the deposit amount and the resulting value is added to the deposit amount. Thus, in the next billing period, the interest rate is applied to the new base, increased by the amount of previously accrued income. Compound interest is advisable to use if the actual payment of income is made at the end of the deposit term. Reasonably planned interest rate policy allows a commercial bank to increase its resources without a significant increase in costs while maximizing profit.
1.2 Formation of the deposit policy of commercial banks in the banking resources management system
In order to attract resources for their activities, it is important for commercial banks to develop a strategy for a deposit policy based on the goals and objectives of the commercial bank enshrined in the charter, maximize profits and the need to preserve bank liquidity. The deposit policy should, first of all, meet the following requirements:
Economic expediency;
Competitiveness;
Internal consistency.
Economic expediency is understood here as the profitability of using the attracted resources of the population. This question, of course, should be considered in the general context of active-passive management. When calculating the relative effectiveness of attracting deposit resources of individuals, it is necessary to take into account both the costs associated with them, including reserve deductions, as well as an indefinite degree of their liquidity, as well as obvious benefits.
The system of deposit rates should be oriented to market conditions while always taking into account the emerging hierarchy of reliability of comparable instruments. So, a bank that keeps rates at a lower level than competitors close to it in terms of reliability risks losing part of its clientele.
One can consider the internal consistency of the deposit policy in several aspects. This is the temporary structure of deposit rates, and their differentiation by amounts, types of deposits in comparison with other comparable instruments of the same bank (certificates, bills, etc.), as well as by various categories of clientele (for example, for individuals and legal entities).
Considering the essence of the deposit policy of commercial banks, it is necessary to touch upon such issues as: subjects and objects of the deposit policy, the principles of its formation, as well as the boundaries of the deposit policy.
The composition of the subjects of the deposit policy of a commercial bank includes bank customers, commercial banks and government agencies. The objects of the deposit policy include the attracted funds of the bank and the additional services of the bank (comprehensive service). The formation of the deposit policy of a commercial bank is based on both general and specific principles.
Under the general principles of the deposit policy are understood the principles common to both the state monetary policy of the Central Bank of the Russian Federation, carried out at the macroeconomic level, and for the policy at the level of each specific commercial bank. These include the principles of an integrated approach, scientific validity, optimality and effectiveness, as well as the unity of all elements of the bank's deposit policy. An integrated approach is expressed both in developing the theoretical foundations and priority directions of the bank’s deposit policy in terms of its development strategy, and in determining the most effective and optimal tactics and methods for its implementation for the bank’s development stage.
Specific principles of the deposit policy include the principles of ensuring the optimal level of bank costs, security of deposit operations, reliability, since the bank, by accumulating temporarily free cash for the purpose of their subsequent placement, seeks to earn income not at any cost, but taking into account the realities of the market in which he carries out his activities.
In connection with the foregoing, one cannot but say that the process of formation of the deposit policy is closely interconnected with the implementation of the interest rate policy by the bank, since the deposit interest is an effective tool in attracting resources. In the days of state regulation, marginal interest rates were set in law in accordance with the urgency of the deposit, and now banks can independently set competitive interest rates, focusing on the discount rate of the Central Bank of the Russian Federation, the state of the money market and based on their own deposit policy. For certain types of deposit accounts, the amount of income is determined by the term of the deposit, the amount, the specifics of the operation of the account, the volume and nature of related services and depends on the client's compliance with the conditions of the deposit.
Payment of bank interest on deposits is the main part of operating expenses. Therefore, the bank, on the one hand, is not interested in a high level of interest rate, and on the other hand, is forced to maintain such a level of interest rate on deposits that would be attractive to customers. Trying to attract deposits, especially of large size and for a long term, commercial banks offer customers high interest rates, despite the increase in interest expenses. However, the attraction of public funds by banks is not unlimited.
In order to ensure the sustainability of credit institutions, the Central Bank of Russia has established the mandatory norm H11 - the maximum amount of attracted cash deposits (deposits) of the population. It is calculated as a percentage of the total amount of cash deposits of the population and the amount of own funds (capital) of the bank. The maximum allowable value of this indicator is 100%.
One of the areas of interest policy of a commercial bank is the calculation and analysis of the value of all resources and deposit operations.
To do this, you must:
Set an acceptable percentage on deposits (deposits);
To study the dynamics of the interest rate on attracted resources;
Analyze changes in interest expense on attracted resources in the total volume of bank expenses.
Interest rates on deposits are set by credit organizations by agreement with customers, taking into account the requirements of the Civil Code of the Russian Federation. A credit institution does not have the right to unilaterally change interest rates on deposits and the duration of these agreements with customers, with the exception of cases provided for by the Federal Law on Banks and Banking Activities or an agreement with a client. The regulation of the Central Bank of the Russian Federation on the procedure for calculating interest established that deposit income is paid to the depositor in cash in the form of interest that the bank accrues on the remaining debt on the principal debt at the beginning of the trading day. When closing the accounts of bank customers, interest is accrued until the day the account is actually closed.
When calculating interest, the calculation takes into account the value of the interest rate, the actual number of days for which funds are raised. For a depositor choosing a bank in order to place funds, the determining procedure (other things being equal) may be the procedure for calculating interest. The fact is that when calculating it, some banks proceed from the exact number of days in a year (365 or 366), and others from an approximate number (360 days), which affects the amount of income.
Interest is calculated according to one of their methods:
Simple interest;
Compound interest;
With a fixed interest rate;
With a floating interest rate.
A progressively increasing interest rate is also applied depending on the time the funds were actually on the deposit. This procedure for calculating income stimulates an increase in the life of funds and protects the contribution from inflation.
The interest policy of a commercial bank related to the commercialization of its activities should:
To contribute to making a profit or creating the conditions for making it in the future;
To regulate the interest rates on deposits and loan operations and set them at a level that ensures the profitability of banking operations;
Ensure the interconnection and consistency between deposit operations and loan issuance operations by the terms and amounts;
Maintain liquidity balance;
Minimize interest rate risk.
The main elements of the deposit policy of a commercial bank are:
1) the bank’s strategy to develop the main directions of the deposit process;
2) the policy of the bank to organize the formation of the resource base;
3) control over the implementation of the deposit policy.
As a rule, in foreign practice, commercial banks are invited to develop a special document on the deposit policy, which would allow to determine the strategy and tactics of the bank in organizing the deposit process.
1.3 Legal and regulatory framework governing deposit operations
Banks and other credit organizations operate in a specific sector of the market - in the system of monetary and financial relations. This determines the subject of their activity: money, currency values, other financial instruments.
The complexity and importance of the relationship of deposits between banks and individuals and legal entities determine the need for their regulation. The basis of the latter is a set of legislative and by-laws, regulatory documents of those state bodies that are entrusted with the function of regulation in the Russian Federation. Currently, the main documents governing deposits (deposits) in the Russian Federation are: Civil Code of the Russian Federation; Federal Law “On Banks and Banking Activities in the Russian Federation”; Federal Law “On the Central Bank of the Russian Federation”, as well as other regulatory acts. Since the Bank of Russia is the center for organizing the deposit system, it is incumbent upon it to develop rules and forms for making deposits.
According to Federal Law No. 395-1 “On Banks and Banking Activities”, Russian citizens, foreign citizens and stateless persons who can manage deposits, receive income from deposits, and make non-cash payments in accordance with the agreement can be depositors of the bank.
Art. 28 of the Banking Law permits to attract credit organizations on a contractual basis funds in the form of deposits (deposits), loans, to make settlements through established in the established manner settlement centers and correspondent accounts opened with each other, and to perform other mutual operations provided for by licenses issued by the Bank Of Russia. At the same time, “interest rates on loans, deposits (deposits) and commission fees for operations are established by a credit institution by agreement with customers”, a credit institution.
Art. 29 of the Law prohibits banks from unilaterally reducing the term of a term bank deposit (deposit) agreement, reducing interest, increasing or, in principle, setting commissions for operations, except as otherwise provided by federal law. You need to know that this prohibition applies only to term deposits, i.e. those made on the terms of their issuance after a certain period of time or upon the occurrence of the circumstances stipulated by the contract. With regard to demand deposits (that is, those made on the terms of issue upon demand), everything remains as before. Rates, terms and the amount of commission on them can be unilaterally changed by the bank in cases stipulated by federal law or an agreement with a client. And the law (in this case, clause 2 of article 838 of the Civil Code of the Russian Federation) just stipulates that the bank has the right to change the amount of interest paid on demand deposits, unless otherwise provided by the contract.
Relations between credit organizations and customers should be formalized by agreement. The agreement should indicate the interest rates on loans and deposits (deposits), the cost of banking services and the timing of their implementation, as well as the procedure for its termination and other essential terms of the agreement.
To provide guarantees for the return of citizens' funds attracted by banks and to compensate for the loss of income on invested funds, a system of compulsory insurance of deposits of individuals with banks is being created. Federal Law of December 23, 2003 No. 177-ФЗ "On Insurance of Individuals 'Deposits in Banks of the Russian Federation" establishes the legal, financial and organizational basis for the functioning of the system of compulsory insurance of individuals' deposits in banks of the Russian Federation, competence, procedure for the formation and activities of organizations performing functions of compulsory deposit insurance, as well as the procedure for paying compensation on deposits.
The law regulates relations on the creation and operation of a deposit insurance system, the formation and use of its monetary fund, payment of compensation for deposits upon occurrence of insured events, as well as relations arising in connection with the implementation of state control over the functioning of the deposit insurance system, and other relations arising in this area. Clause 3 of Article 5 of Federal Law dated December 23, 2003 No. 177-ФЗ “On Insurance of Individuals' Deposits in Banks of the Russian Federation” established that deposit insurance does not require an insurance contract between a credit institution and a client.
Deposit insurance does not require investors to enter into an insurance contract. Compensation on deposits is paid to the depositor in the amount of 100% of the amount of deposits with the bank in respect of which the insured event occurred, but not more than 1,400,000 rubles. .
The Civil Code, part two, chapter 44 establishes the forms of bank agreements on attracting bank deposits (deposits), types of deposits, the procedure for calculating interest on deposits and their payments, ensuring the return of a deposit and the procedure for using a savings (deposit) certificate.
The bank deposit agreement must be concluded in simple writing and its form will be considered complied with when the client deposits into the account. According to the concluded bank agreement on the deposit, the bank pays interest to the client in the amount specified in the agreement. Interest on the amount of a bank deposit is calculated from the day following the day it is received by the bank until the day it is returned to the depositor inclusively, and if it is debited from the depositor's account on other grounds, until the day it is debited inclusively.
If the client-depositor does not require a refund of the amount of the fixed-term deposit upon the expiration of its term or the amount of the deposit made on other conditions of return, or upon the occurrence of circumstances stipulated by the contract, the contract shall be deemed extended on the terms of the “demand” deposit (deposit) unless otherwise specified by contract. Interest on the amount of the bank deposit is paid to the client-depositor at his request at the end of each quarter separately from the deposit amount, and interest not demanded during this period increases the deposit amount, on which interest is accrued (i.e., interest is added to the deposit), unless otherwise not provided for by the bank deposit agreement.
According to the provision “the bank is not entitled to give preference to shareholders (participants) of the bank over other customers of the bank, i.e. establish other conditions for raising funds (a higher interest rate, a more frequent period of capitalization (accrual) of interest), which are placed by the bank's customers on the same terms (amount, term, etc.). ”
At the same time, the regulation allows the bank to unilaterally change the size of the interest rate on deposits (for funds recorded in the corresponding bank account) with the term “on demand”, unless otherwise provided by the bank deposit agreement (bank account agreement).
When a bank transfers funds balances from one balance account on accounting for borrowed funds to another balance account on accounting for the same funds in accordance with the terms of the contract (for example, if the deposit (deposit) term is changed in the same bank, interest is accrued on the balances funds for each balance account (old and new) based on the actual number of calendar days of accounting for funds in each of these accounts.
In the Instruction of the Bank of Russia dated September 14, 2006 No. 28-I “On the Opening and Closing of Bank Accounts, Deposits (Deposits) Accounts”, a list of types of bank accounts is classified based on the subject composition of their owners and the purpose of the accounts. This list includes:
Current, settlement, budget, correspondent accounts;
Correspondent subaccounts;
Trust accounts;
Special bank accounts;
Deposit accounts of courts, divisions of the bailiff service, law enforcement agencies, notaries.
Banks open these accounts with customers in the currency of the Russian Federation and foreign currencies.
Current accounts are opened for individuals to perform settlement operations that are not related to business or private practice.
Chapter2. Analysis of deposit policy of Sberbank of Russia PJSC
2.1 Organizational and economic characteristics of the activities of Sberbank of Russia PJSC
Historically, Sberbank of Russia PJSC counts its foundation from the date of the decree of Emperor Nicholas I on the establishment of savings banks, signed on October 30 (November 12), 1841. “With respect to the benefits that the Savings Banks can bring both economically and morally,” the Decree said, “We command: to establish, on the grounds explained in the Charter, Savings Banks for the first time at the St. Petersburg and Moscow State Treasuries.” The opening of the first savings bank took place in St. Petersburg on March 1, 1842 in the building of the Board of Trustees on 7. Kazan Street. In this building, built in 1810 by the architect J. Quarenghi, the Petersburg box office worked until 1917. On the opening day, the cashier was visited by 76 depositors who issued accounts in the amount of 426.5 rubles. The first client of the savings bank was an outland adviser, assistant to the Director of the Expedition of the St. Petersburg Loan Treasury, Nikolai Antonovich Kristofari, who laid the foundation for the Russian savings business with his 10-ruble contribution. He was issued a savings book at number 1. The Moscow box office opened its doors to clients on April 5, 1842 in the building of the Board of Trustees of the Educational House on Solyanka. Until 1862, it remained the only savings bank in the city that did not have branches, as did St. Petersburg.
Sberbank of Russia PJSC continues to actively develop remote sales channels, in particular, expanding its network of self-service devices. Another remote service is successfully developing - Sberbank of Russia PJSC OnL @ yn. The number of its active users exceeds 9 million customers. Customers are provided with new versions of Sberbank OnL @ yn applications for iPhone, iPad and Android, as well as an application for Windows Phone. Sberbank of Russia PJSC has a unique branch network and currently includes 14 regional banks and more than 16 thousand branches in 83 regions of the Russian Federation located in 11 time zones. The Bank’s foreign network consists of subsidiary banks, branches and representative offices in the CIS, Central and Eastern Europe, Turkey, Great Britain, the USA and other countries.
The main activities of Sberbank of Russia PJSC are banking operations:
· Operations with corporate clients: servicing settlement and current accounts, opening deposits, providing financing, issuing guarantees, servicing export-import operations, collection, conversion services, money transfers in favor of legal entities, etc.
· Operations with retail clients: taking funds into deposits and securities of the Bank, lending, servicing bank cards, operations with precious metals, buying and selling foreign currency, payments, money transfers, storing valuables, etc.
· Transactions in financial markets: with securities, derivative financial instruments, foreign currency, etc.
The financial and economic performance indicators of Sberbank of Russia PJSC are presented in Table 1. The data in Table 1 allow us to formulate the following conclusions:
· Net profit for the first half of 2016 amounted to 229.4 billion rubles, which is almost 3 times higher than the result of the first half of 2015 (81.6 billion rubles). The main factor of profit growth is the growth of net interest income due to an increase in the volume of working assets, as well as a decrease in the level of interest rates in the market and the replacement of state financing with customer funds.
Table 1
Financial and economic performance indicators of Sberbank of Russia PJSC
· The Bank’s total capital calculated in accordance with Bank of Russia Regulation No. 395-P dated December 28, 2012 “On the Methodology for Determining the Equity (Equity) of Credit Institutions of Credit Institutions (Basel III)” increased by 117.2 compared to January 1, 2016 billion rubles, up to 2,775.3 billion rubles. The source of capital growth was earned profit. Return on assets increased from 0.8% to 2.0%, due to the growth in net profit.
The return on equity for the first half of 2016 increased from 8.0% to 18.9% due to an increase in net profit.
· Net assets decreased compared to January 1, 2016 by 3.7%, or 0.8 trillion. rubles, up to 21.9 trillion. rubles. The net asset dynamics was strongly influenced by the negative revaluation of foreign currency balance sheet items as a result of the ruble appreciation. Thus, net loan debt compared with the beginning of the year decreased by 0.7 trillion. rubles, or 4.0%, which was a consequence of the revaluation of foreign currency loans to legal entities and non-resident banks. The dynamics of net loan debt was also affected by the investment of a part of funds previously placed on loans to banks in more profitable instruments, in particular, in securities. Net investments in securities and other financial assets available for sale increased by 16.1%, or by 0.4 trillion. rubles to 2.7 trillion. rubles. The increase in investments in subsidiaries and affiliates is associated with pre-capitalization of subsidiaries. Reduction of cash balances from the beginning of the year by 0.3 trillion. rubles, or 34.4%, which took place mainly in January, due to a seasonal decrease in demand for cash compared to the period of the New Year holidays. 12
· The customer’s funds remain the basis of the Bank’s resource base. Since the beginning of the year, their balance has decreased by 0.7 trillion. rubles, or 3.9%, to a value of 17.0 trillion. rubles. The dynamics of customer accounts was affected by a negative revaluation of foreign currency balances.
· The financial result (including other comprehensive income from revaluation of securities for sale) amounted to 295.1 billion rubles, which is 89.3 billion rubles, or 43.4%, more than the same period last year.
The liquidity indicators of Sberbank of Russia PJSC are presented in Table 2. Commercial deposit bank
For the 1st half of 2016, the total assets of Sberbank of Russia PJSC decreased by 831 billion rubles and in the second quarter amounted to 21,876 billion rubles (against 22,707 billion at the beginning of the year).
The main factors that determined the dynamics of assets were:
· A decrease in the amount of net loan debt (a decrease of 682 billion rubles per year to 16,188 billion rubles);
· A decrease in cash by 252 billion rubles due to a decrease in demand for cash from customers;
· Revaluation of assets at fair value through profit or loss (for 2015 - by 155 billion rubles),
· An increase in investments in securities and other financial assets available for sale, as well as an increase in investments in subsidiaries and affiliates (totaling 598 billion rubles for six months).
table 2
Liquidity indicators of Sberbank of Russia PJSC
Conventional designation (number) of the normative |
Standard Name |
Permissible value of the standard |
Actual value of the standard |
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Capital adequacy |
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Capital adequacy |
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Sufficiency of equity (capital) |
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Instant liquidity |
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Current liquidity |
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Long term liquidity |
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Maximum risk per borrower or group of related borrowers |
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Maximum size of large credit risks |
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The maximum amount of loans, bank guarantees and sureties provided to shareholders (participants) |
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The aggregate amount of risk by insiders |
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Use of own funds (capital) for the acquisition of shares (shares) of other jur. of persons |
The main reason for the decrease in liabilities in the 1st half of 2016 by 1,062 billion rubles was the outflow of funds of customers who are not credit organizations (for the first half of the year - 696 billion rubles) and the outflow of funds of credit organizations by 194 billion rubles. Customer accounts remain the main source of the resource base. In addition, the Bank completely abandoned expensive borrowings under the Bank of Russia’s main refinancing instruments — direct repos and loans secured by non-marketable assets of 312-P in the amount of 200 billion rubles — which was a consequence of the Bank’s flexible interest rate policy and effective management of active and passive base in the 1st half of 2016. On January 1, 2016, a new mandatory standard of the Bank of Russia came into force - the short-term liquidity ratio (“Basel 3”) N26. Calculation of H26 is carried out by the Sberbank of Russia PJSC Group. The minimum acceptable value of the standard for 2016 is 70%, followed by an annual increase of 10 percentage points until it reaches 100% from January 1, 2019. The value of the standard in the second quarter was 99.9% 11. The business plan of Sberbank PJSC provides for unconditional compliance with the Bank of Russia limit on short-term liquidity ratios throughout 2016.
The Bank’s instant liquidity ratio (H2) regulates the risk of a bank losing liquidity during a business day (the limit of the Bank of Russia is 15%). Compared with July 1, 2015, the H2 standard decreased by 2.46 and as of July 1, 2016 amounted to 105.01%.
The Bank's current liquidity ratio (N3) reflects the risk of the Bank losing solvency within 30 days (the limit of the Bank of Russia is 50%). For the year, the N3 standard decreased by 17.30 pp and as of July 1, 2016 amounted to 148.93%. The Bank's long-term liquidity ratio (H4) reflects the risk of the Bank losing liquidity as a result of placing funds in long-term assets (the limit of the Bank of Russia is 120%). From July 1, 2015, the H4 standard decreased by 5.42 and as of July 1, 2016 amounted to 63.87%. The Bank abides by the marginal values \u200b\u200bof mandatory liquidity ratios established by the Bank of Russia.
In recent years, Sberbank of Russia PJSC has done a great job, which ensured the final formation of the main groups of competitive advantages, namely:
· Significant customer base. Sberbank of Russia PJSC successfully works with customers in all segments (from retail customers and individual entrepreneurs to major holdings and multinational companies) in all regions of the country.
· Huge scale of operations. Sberbank of Russia PJSC has undeniable advantages both in terms of business scale (transaction size, access to resources, international ratings), and in terms of the size and quality of physical infrastructure (in particular, a unique distribution network for retail and corporate customers, including physical offices, ATMs and payment terminals, digital service channels).
· A wide range of financial products and services. Due to the presence in the Group’s product line of a full range of operations for all customer groups in all countries of presence, Sberbank of Russia PJSC can provide comprehensive services to each customer, both in Russia and abroad. The Bank also has a unique opportunity to provide quality services to both individuals and legal entities simultaneously.
· Industrial technology. Over 5 years, Sberbank of Russia PJSC managed to create a solid foundation for further innovative development: an industrial risk management system was built, the operational function was consolidated, IT processes and systems were streamlined.
· Powerful brand. The competitive advantage of Sberbank of Russia PJSC is based on trust from all categories of customers, which is supported by the quality of service and positive customer experience. Over the past 5 years, the brand of Sberbank of Russia PJSC, along with our traditional attributes of reliability and stability, is increasingly associated with modern technology and innovation, becoming a symbol of the Group’s success.
· International presence. In recent years, Sberbank of Russia PJSC has significantly expanded its international presence and has become a truly international group. Presence in 22 countries of the world gives us the opportunity to replicate the best technologies and practices within the Group, diversify risks, strengthen the brand in international markets, and develop an international team of employees.
· Team and management technology. Over 5 years, the team of the Group has significantly updated, strengthened its skills, and also gained unique experience in large-scale transformation. Also, Sberbank of Russia PJSC paid considerable attention to the development and large-scale replication of modern management technologies, for example, building a function for working with personnel, introducing tools of the Sberbank of Russia Production System, and improving the efficiency of current activities management.
The medium-term development plans of Sberbank of Russia PJSC are determined by the Development Strategy for the period 2014-2018. In accordance with the Strategy, over the next five years, Sberbank of Russia PJSC Group plans to double its net profit and assets indicators, significantly increase the efficiency of cost management, increase its first-level capital adequacy ratio, and maintain capital profitability at a level higher than global peers.
It is planned to achieve these results through work in the following key areas:
· Strengthening competitive position - maintaining or increasing Sberbank's share in most markets. This will ensure the growth rate of the Bank's business volumes exceeding the average market indicators. At the same time, cash settlement services and work with small and medium-sized businesses will be especially significant.
· Ensuring a faster growth rate of non-credit income - as a result of developing relationships with customers and expanding product offerings, increasing the number of products per client by an average of 50-70%.
· Ensuring high efficiency in cost management - as a result of the implementation of large-scale transformations in the organization of the sales and customer service system, increasing the efficiency of operations and processes aimed at a significant increase in labor productivity.
· Maintaining a high quality of assets - building the optimal ratio of profitability and risk in lending operations.
Fulfillment of the financial goals of the strategy is closely interconnected with the successful promotion of the Bank in five main areas of development or strategic topics also formulated in the Strategy:
· With a client for life: we will build a very deep trusting relationship with our customers, we will become a useful, sometimes invisible and integral part of their life. Our goal is to exceed the expectations of our customers;
· Team and culture: we strive to ensure that our employees and the corporate culture of Sberbank of Russia PJSC become one of the main sources of our competitive advantage;
· Technological breakthrough: we will complete the technological modernization of the Bank and learn how to integrate all the most modern technologies and innovations into our business;
· Financial performance: we will increase the financial return of our business due to more efficient cost management and risk / return ratio;
· Mature organization: we will build organizational and managerial skills, create processes that are appropriate for the scale of Sberbank of Russia PJSC Group and our level of ambition.
2.2 Analysis of deposit operations of Sberbank PJSC Of Russia
Raising funds of private clients and ensuring their safety remains the basis of business Sberbank of Russia PJSC raises funds for term deposits, demand deposits, including bank cards, savings certificates, bills and accounts in precious metals. The volume of attracted funds of individuals, including term deposits, demand accounts and bank cards, as well as funds in precious metals for 2015 increased by 2.2 trillion. rub. and by January 1, 2016 exceeded 10.3 trillion rubles. (Table 3).
Table 3
Structure of funds of individuals of Sberbank of Russia PJSC
The growth rate according to the results of the reporting year (27.2%) exceeded the growth rate of funds of individuals according to the results of the previous year (4.9%). The main increase was due to fixed-term ruble deposits. The volume of foreign currency deposits also increased in dollar terms. Some of the deposits are open in remote channels.
During 2015, with a general market trend for reducing deposit rates and with the dynamics of the Bank of Russia key rate, Sberbank lowered interest rates on deposits in rubles and foreign currency six times, including savings certificates for individuals. Promotions on ruble products, maintaining a competitive level of rates on foreign currency deposits, as well as new deposits for affluent customers allowed Sberbank of Russia PJSC to retain its market share on term deposits in rubles and significantly increase its share on foreign currency deposits (Table 4).
As of January 1, 2016, more than 170 thousand customers have registered the Sberbank Premier package of services and more than 22 thousand VIP clients use the Sberbank First package of services.
Table 4
Share of PJSC Sberbank of Russia in the Russian market of retail deposits
As part of these packages, customers receive premium debit cards for themselves and their loved ones, Priority Pass cards for access to the business lounges of the largest airports in the world, have the opportunity to take advantage of preferential rates of currencies and precious metals, as well as a discount on the use of safe deposit boxes. Each package has a special line of deposits with a higher interest rate, as well as higher rates on savings accounts.
From October 1, 2015, the Golden package of services was launched for customers of the upper mass segment, which includes gold debit cards and travel insurance for the whole family.
Under agreements on the procedure for interaction between PJSC Sberbank of Russia and the branch of the Pension Fund of the Russian Federation16 for the delivery of pensions paid by the Pension Fund of the Russian Federation concluded at the level of constituent entities of the Russian Federation, Sberbank of Russia PJSC offers a service for pensioners and privileged categories of citizens: free receipt certificates on the types and sizes of pensions and other social benefits of the FIU credited to the account with Sberbank. A certificate is issued at any Sberbank office or using the Sberbank Online service, as well as at ATMs and other self-service devices of the Bank. The certificate on the types and sizes of pensions allows pensioners to promptly receive detailed information about all types of PFR payments due to them and their sizes for the required period. The share of pensioners receiving a pension through the Bank is constantly growing. The number of Russians who entrusted the payment of their pension to Sberbank reached 24.8 million people (Table 5).
Table 5
Statistics of pensioners at Sberbank of Russia PJSC
Sberbank of Russia PJSC separately distinguishes work with the Social segment. The level of protection of the interests of pensioners on the safety of their deposits from encroachments of third parties has been increased. A memo has been developed for employees of the departments for protecting the savings of pensioners and disabled people from fraudulent actions of third parties. Now, having performed simple actions, branch employees can stop fraudsters, prevent them from taking advantage of credulity and tricking customers into consuming transactions on accounts. The procedure for obtaining a pension on accounts at the Bank has been simplified: a pension delivery statement is automatically printed when the account is opened, which frees up 15 minutes of customer time and eliminates the time-consuming manual filling of details. Work is underway so that pensioners can draw up documents for the delivery of pensions remotely through their personal account on the Unified Portal of Public Services.
Sberbank of Russia PJSC presents various deposit programs. Therefore, every citizen of Russia can use the most convenient program:
· “Keep the contribution”;
· "Savings certificate";
· "Urgent";
· "Deposit for people of retirement age."
A large banking institution has developed an original program with about 13 options and conditions for depositors. Moreover, 8 of them are replenished monthly, and 4 programs can offer a partial withdrawal of savings funds. The bulk of deposits allow capitalization of rates to be realized. As a result, payments on deposits amount to:
About 2% of annual funds in euros;
10% in domestic currency;
3% in dollars.
People of retirement age most often use the “Replenish” and “Save” deposits. The conditions of these deposits are almost identical with deposits for other categories of people. The only difference is the deposit rate. It depends on the period of the accumulative funds. To increase your equity, you can use the online deposit.
The pension program Pension Plus is very popular among pensioners. According to the terms of this deposit, profit is accrued in the form of a certain pension premium. In addition, there is the possibility of an additional contribution and partial withdrawal of accumulated interest. The total rate on this deposit is 3.72% per annum.
“Happy Interest" is a new contribution for citizens. The total rate on this deposit depends on several factors:
The economic situation in the state;
Inflation rate;
The total amount of banking resources;
Business activity.
Banking offers of deposit programs depend on the listed criteria. In addition, most of these factors are aimed at the main position of the Central Bank of Russia. According to official information, the deposit rate this year will not exceed 10% at Sberbank. The inflation rate in 2016 was approximately 9%. Accordingly, a large financial institution saves capital from the effects of inflation.
Last year, a financial institution lowered rates due to low inflation and a difficult economic situation. This year, deposit rates are also expected to decrease. The instability of the domestic currency and the sharp decline in oil prices have affected this process. However, the competent policy of the bank allowed changing some amendments and adjustments in interest rates on deposits in Sberbank of Russia in 2016 for today.
Sberbank regularly carries out various upgrades in the field of deposits. New programs for the accumulation and saving of financial resources appear. Even in spite of the crisis in Russia, investors manage their savings funds based on the proposed banking programs. Savings deposits will help:
Monthly withdraw interest income;
Get the most profitable profit;
Place and replenish funds;
Use the most profitable programs for a period of 3 to 6 months;
To withdraw accumulated money in case of emergency.
Sberbank of Russia PJSC offers every citizen of the Russian Federation a flexible system of cash deposits. Everyone can choose the validity period of storage of accumulated funds. For example, a term deposit "Replenish" is issued after 3 months. This contribution is valid for several years (3 years).
Sberbank of Russia PJSC offers various deposit programs with optimal deposit rates. The new “income season” contribution guarantees a good profit of up to 11.7%. The smallest amount for opening a deposit account is at least 1 million rubles. The “Save” deposit provides an excellent opportunity to draw up a deposit in foreign and domestic currency. The smallest investments from 110 euros and dollars, 1100 rubles. The ruble deposit is 6.32% -9%, and in euros 0.15% and 1.9%, in dollars 0.25% and 1.8%.
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development of proposals for improving the deposit policy of a commercial bank. (slide 2)
Based on the goal of my work, I tried to solve the following problems: (slide 3 !!!)
Object of study acts as the branch №4205 of the OJSC "Savings Bank of the Russian Federation"
In the first part, I have revealed the essence, goals, objectives of the deposit policy, the theoretical questions of my work are covered in 1 part of it.
The specificity of a banking institution as one of the types of commercial enterprises is that the vast majority of its resources are generated from borrowed funds.
The main types of funds attracted by the bank are funds attracted by banks in the process of working with clients (deposits), funds accumulated by issuing their own debt obligations (deposit and savings certificates, bills of exchange).
In order to attract resources to commercial banks, it is important to develop a strategy for the deposit policy, based on the goals and objectives of the commercial bank, enshrined in the charter, to maximize profits and the need to preserve bank liquidity.
The formation of the deposit policy of a commercial bank is based on some basic and specific features that we can see on the next slide (slide 4)
The first section also considers the mechanism for the formation of the deposit policy, which is schematically presented in Figure 1 of the handout.
In the second part of my work, I conducted an analysis of the bank deposit market in the Russian Federation and Sberbank's place in this market.
For example, in 2005, the tendency of past years to reduce the number of banks licensed to attract funds from individuals to deposits significantly increased. This was the result of the selection of banks in the deposit insurance system. In 2005, the number of such banks decreased from 1165 to 1045.
The dynamics of attracted funds of individuals indicates the preservation of positive trends in the development of the banking sector. In 2005, household funds in banks increased by 39% to 2,817 billion rubles (in 2004, by 30%). Of these, as of January 1, 2006, 1,524 billion rubles were placed with Sberbank, and 1,293 billion rubles with other banks.
In 2005, Sberbank continued to decline in the retail deposits market.
Sberbank's share in the retail deposits market
It should be noted that the decrease in the share of Sberbank in the deposit market is due to the accelerated development of the retail business by other banks, since in absolute terms, deposits in Sberbank are consistently growing.
The next point of my work was the analysis of deposits of branch 4205 of the Security Council of the Russian Federation for 2003-2005.
The structure of the attracted funds is shown in Figure 2 of the handout. The main share of the balance sheet liability is attracted funds, in which the funds of individuals make up 83% of the total liability in 2005 (2759393 thousand rubles), while the funds of legal entities make up only (440522 thousand rubles) 13.25% of the total liability.
The largest part of the bank's liability, i.e. means of physical persons increased from 2003 to 2005 by 1350452 thousand rubles, which indicates the popularity of Sberbank among the population and the correct policy of the bank in the field of services for individuals. persons.
These data are presented in table 1.
In fig. 3 handouts we can follow the dynamics physical deposits persons. We observe a significant increase in the popularity of physical deposits. persons. From 2003 to 2005, deposits of physical. persons in the branch of the Security Council of the Russian Federation No. 4205 increased from 1406994 thousand rubles. in 2003 to 2757446 thousand rubles in 2005, i.e. almost on 196 %.
In table 2 we consider the dynamics of investment of physical. persons in savings certificates.
Having considered the amount of funds invested in savings certificates, we conclude that there was an increase in these funds for the reporting period by 187.23 thousand rubles.
In fig. 4 it is clearly seen that in 2004 there was a sharp increase in physical funds. persons invested in savings certificates, and then reducing this amount.
The interest rate policy of the bank also affects such a change, so if
Institute of Economics and Management (SP) FGUAO VO KFU named after V.I. Vernadsky
5 year student
Sribnaya Ekaterina Andreevna, Institute of Economics and Management (SP) FGUAO VO KFU named after V.I. Vernadsky ”, Republic of Crimea, Simferopol, Ph.D., Associate Professor, Department of Public Finance and Banking
Annotation:
This article explores the problems encountered by commercial banks in the implementation of deposit operations, analyzes the problems of the deposit policy of commercial banks and their solutions, and considers a set of measures aimed at improving the market for private deposit resources.
This article explores the problems faced by commercial banks in conducting deposit operations, analyzes the problems of the deposit policy of commercial banks and the ways of their solution, and considers a set of measures aimed at improving the private deposit market.
Keywords:
deposit; commercial Bank; deposit operations; entity; individual; interest rate; Problems
deposit; commercial Bank; deposit operations; entity; individual; interest rate; problems
UDC 336.71
Introduction
Deposit operations are the main in volume among all operations of banking institutions. They constitute the basis of the resources of commercial banks. The formation of deposit resources allows commercial banks to carry out active operations and maintain the required level of liquidity of a banking institution.
Relevance
There are a number of problems in the formation and management of deposits of commercial banks in the Russian Federation. It is advisable to include:
1) the instability of the banking system in the Russian Federation;
2) frequent changes in the policy of the Central Bank of the Russian Federation;
3) lack of long-term and cheap financial resources and the prevalence of short-term resources over long-term ones in commercial banks;
4) low capitalization of commercial banks in the banking system of the Russian Federation;
5) the predominance of deposits of individuals in commercial banks of the Russian Federation.
The problem of deposit operations of commercial banks is associated with:
1) the problems of commercial banks of the Russian Federation in the formation of the resource base and the effective allocation of borrowed funds in active operations in the conditions of competition in the market of banking resources;
2) problems of inflationary processes occurring in the Russian Federation;
3) problems of fluctuations in the national currency of the Russian Federation (ruble);
4) the problems of toughening the requirements of the Central Bank of the Russian Federation, which regulates and controls commercial banks, which, in turn, determines the scope of the commercial bank, the objects of its active operations, the totality of the resource base of the commercial bank, as well as the amount of attracted resources.
Purpose This article is an analysis of the problems of deposit operations by commercial banks in the Russian Federation.
In accordance with the goal, the following tasks:
1. The problems that commercial banks face in deposit operations are investigated.
2. The problems of the deposit policy of commercial banks and ways to solve them are analyzed.
3. A set of measures aimed at improving the market of private deposit resources has been considered.
Materials and methods: research and subsequent conclusions were built on the basis of the studied material, legislative acts, textbooks and scientific articles of domestic and foreign scientists on relevant issues.
In the process of writing the article, we used the following methods of scientific knowledge:
- Abstractions and concretization (in the study of the problems faced by commercial banks in the implementation of deposit operations).
- Methods of analysis and synthesis (when analyzing the problems of the deposit policy of commercial banks and ways to solve them and a set of measures aimed at improving the market of private deposit resources).
Results:
V.M. Solodkov highlights the problems of deposit operations of a commercial bank in the Russian Federation: “1) the weakness of the resource base that has existed since the creation of the banking system in the Russian Federation and expressed in the lack of long liabilities; 2) in the context of the emergence of long-term instruments and declining inflation, interest risk arises, that is, there is a need for its regulation; 3) there are a number of difficulties in the interaction of commercial banks and depositors. ”
Due to an ill-conceived deposit policy, banking institutions are faced with liquidity problems.
In banking, the main condition for the effective functioning of commercial banks is to increase profitability and ensure liquidity.
The mechanism of the required reserve ratio for commercial banks is that the Central Bank of the Russian Federation establishes for all commercial banks and other depository institutions the norm for the mandatory storage of borrowed funds on correspondent accounts without the right to use them and without paying interest on these funds. The amount of required reserves is established as a percentage of the total amount of funds attracted by a commercial bank.
The Central Bank of the Russian Federation, increasing the reserve ratio, immediately reduces the amount of excess reserves of commercial banks, reduces their credit capacity, and reduces the level of multiplication of attracted deposits. Accordingly, the total amount of money supply in the credit market of the Russian Federation is decreasing.
If the Central Bank of the Russian Federation needs to increase the supply of funds, then it is necessary to reduce the required reserve ratio. A decrease in the required reserve ratio by the Central Bank of the Russian Federation will lead to an increase in the volume of free reserves, an increase in the credit capacity of commercial banks and an increase in the level of multiplication of deposits attracted by commercial banks.
The money reserve norm of the Central Bank of the Russian Federation is affected not only through a change in the resources of each commercial bank, but also through a change in the money multiplier. Therefore, in countries with market economies, this monetary policy tool is used with certain restrictions. Frequent changes in reserve requirements by the Central Bank of the Russian Federation adversely affect the activities of commercial banks.
In carrying out deposit operations, banking institutions are faced with many problems, the main of which are the following:
1) insufficient capitalization of banking institutions in the Russian Federation;
2) the lack of interest of the managerial staff of banking institutions in attracting deposit resources of individuals;
3) a weak level of management in commercial banks in the Russian Federation;
4) the lack of banking institutions in the Russian Federation of a scientifically based management strategy;
5) a fairly limited list of proposed deposit operations for individuals and legal entities by commercial banks of the state;
6) a high level of interbank competition, which forces commercial banks to find new sources of attracting financial resources;
7) the consequences of the crisis in the currency, money, credit and financial markets of the Russian Federation, which negatively affects the activities of commercial banks in the state.
In our opinion, the main problem of deposit operations of commercial banks in the Russian Federation is the insufficient level of capitalization. This is due to the fact that the capitalization of banking institutions has a strong impact on the level of profitability and liquidity of a banking institution. The effectiveness of any banking institution depends on the size of borrowed and borrowed resources in a commercial bank.
Attracting financial resources and changing the structure of sources of attracting resources is the main component of the policy of managing liabilities and assets in a commercial bank. Timely, efficient and competent management of passive operations of commercial banks involves the implementation of a competent and effective deposit policy by banking institutions.
Within the framework of the modern development of the banking services market, it is advisable to single out a number of problems inherent in the deposit policy pursued by commercial banks, as well as suggest a number of ways to solve the problems identified. This will enable commercial banks to minimize the risks of attracting and allocating resources in order to increase the efficiency of their activities and prevent the bankruptcy of a commercial bank.
The problems of the deposit policy of commercial banks and their solutions are presented in table 1.
Table 1. Problems of the deposit policy of commercial banks and ways to solve them
Problems |
Solutions |
1. The development of competition in the banking system between commercial banks for depositors and borrowers |
Increasing the attractiveness of deposit operations for depositors in the amount, terms, interest rates; introduction of new technologies in deposit operations; improving the quality of service; strengthening the image of a commercial bank in the banking services market; conducting proper and effective advertising. |
2. Insufficient resource base. |
Increasing confidence in commercial banks on the part of legal entities and individuals; activation of the deposit policy of commercial banks; minimization of the influence of negative factors on the activities of commercial banks and, in particular, on the attraction of deposit resources. |
3. Ensuring the safety of invested deposits. |
Deposit insurance by the state and mandatory ratios of the Central Bank of the Russian Federation; increasing the stability and liquidity of a commercial bank. |
4. Instability of the banking sector. |
The policy of the Central Bank of the Russian Federation aimed at stabilizing the situation in the banking sector; conducting competent and effective policies by commercial banks to ensure effective functioning and barriers to bankruptcy. |
5. Shortcomings in the conduct of the deposit process, improperly chosen deposit policy. |
Creation of a structure in a commercial bank that regulates deposit operations; the implementation of advanced training for employees of commercial banks. |
In the implementation of the deposit policy and in conditions of strong competition in the banking sector of the Russian Federation, banking institutions are very much attached to customers and they have a very high dependence on them. The greater the limited financial resources, the greater the dependence of the banking institution on the circle of customers.
One of the main causes of the crisis in the banking sector of the Russian Federation is the fact that allows banking institutions in the Russian Federation to consider as free financial resources suitable for carrying out active operations all the funds of individuals and legal entities that are in accounts with banking institutions.
Since the goal of all banking institutions in the Russian Federation is to maximize profits and achieve the highest performance indicators, banking institutions, for the most part, use financial resources that are not intended for this and which are inappropriate to use for carrying out active operations.
The inexpediency of using these financial resources is due to the fact that they are not combined with the active operations of banking institutions in terms of currency, but are combined with the active operations of banking institutions only in amount. And this circumstance, in turn, can lead to a liquidity crisis in a banking institution.
Banking institutions in the Russian Federation should improve the quality of their attracted resources and not use financial resources that are not intended for this either by banking legislation or the appropriateness of use for carrying out their active operations.
The conversion of short-term financial resources of banking institutions in the Russian Federation, attracted from individuals and legal entities, into long-term financial resources will not provide the opportunity to provide the state economy with the resources it needs, as well as to ensure the demand for financial resources from individuals and legal entities. This is due to the fact that this transformation has its limitations.
A stable and competent deposit base of banking institutions in the Russian Federation can be formed only by creating a new mechanism or transforming the existing one, which would allow banking institutions in the Russian Federation to attract medium-term and long-term financial resources.
In order to attract medium and long-term financial resources of individuals, commercial banks in the Russian Federation must:
1) increase the maximum guarantee amount of the deposit resources of individuals, and also include in this system of guaranteeing deposits of the population as many banking institutions operating in the Russian Federation as possible;
2) improving the quality of deposit services provided by banking institutions in the Russian Federation;
3) improving the literacy of individuals in the Russian Federation regarding the placement of their financial savings on deposit resources in banking institutions;
4) the development and implementation of new pension deposit programs in banking institutions of the Russian Federation.
Increasing the motivation of individuals to invest their financial resources in deposit accounts in banking institutions in the Russian Federation involves the development of a set of measures aimed at improving the market for private deposit resources.
This set of measures can be developed at the macro level, which involves:
1) improvement of the legislative and regulatory framework for the regulation of deposit operations of banking institutions operating in the Russian Federation;
2) improving monetary policy;
3) improving the organization of deposit operations of banking institutions in the Russian Federation.
This set of measures can be developed at the micro level, which involves:
1) improving the services provided by a banking institution in the Russian Federation;
2) improving the work of personnel of a banking institution in the Russian Federation;
3) improving the reputation and image of a banking institution in the Russian Federation;
4) the development of non-profit banking institutions in the Russian Federation.
Conclusion
Thus, from the foregoing, it can be concluded that the implementation of the deposit policy is one of the important directions of attracting new investors to a banking institution in the Russian Federation and managing the existing deposit portfolio of a banking institution in the Russian Federation. The implementation of the deposit policy improves the efficiency of banking institutions in the Russian Federation in the market of banking services.
Bibliographic list:
1. Solodkov V.M. Certificates of deposit as a way of forming long liabilities / V. Solodkov // Banking. - 2010. - No. 8. - S. 69-71.
2. Tarasov V.I. The relationship of credit policy, deposit and loan interest / V.I. Tarasov // Bulletin of the Association of Belarusian Banks. - 2003. - No. 27. - C. 24-30.
Reviews:
05/05/2017, 10:49 Lyubenkova Elena Petrovna
Review: 1) It is necessary to structure all the material presented in accordance with the stated topic of the article and turn it into a single whole. So far, this is a set of pieces that are poorly interconnected, although the material is quite interesting. 2) The relevance of the bibliographic list presented raises doubts about the publication dates, which is probably why some of the problems and their solutions described in the article are already outdated. Newer publications on this subject should be examined. The article requires revision. It is not recommended for publication.
When attracting funds, the right of choice remains with the client, and the bank is forced to conduct fierce competition for the depositor, which is quite easy to lose. The limited resources associated with the development of banking competition leads to a close connection with certain customers. If the circle of these customers is narrow, then the bank’s dependence on them is very high. In terms of passive operations, the Bank’s choice is usually limited to a certain group of clients, to which it is tied much more than to borrowers. As a result of this, in order to solve the problem of forming the resource base of the bank, it is necessary to intensify work to expand the circle of investors.
Intensifying competition for customer funds requires modern banks to pay increased attention to improving the methods used to manage attracted resources.
The legislative framework establishes the foundations of banking activities to attract resources. In addition to laws, the activities of the Bank are governed by detailed regulations of the Bank of Russia that define the basic requirements for banks.
Monetary policy pursued by the Bank of Russia has a significant impact on resource mobilization activities.
Reserve requirements have historically performed the function of securing banks' obligations to depositors and creditors, which is not so relevant in the conditions of creating a deposit insurance system. In modern conditions, the reserve requirements policy has a great impact on the volume and structure of attracted resources, and mainly on the cost of attracted resources. Of course, the establishment of required reserves by the Bank of Russia is justified. But for the bank, as you know, reserve requirements mean the need to divert part of the attracted resources to reserve accounts, and therefore, reduce the amount of resources that can be used to conduct profitable active operations.
Currently, the Bank of Russia has somewhat softened reserve requirements. The need for reserve deductions and deductions to the compulsory deposit insurance fund determines the "cost" of attracted resources. Reducing the required reserves for household deposits would allow banks to offer higher and, therefore, more attractive to customers interest rates.
An important method of managing the bank's attracted resources is the diversification of attracted resources.
Diversification (from lat. Diversification - change, diversity) of deposits involves the expansion of modifications of deposit services, and, in simple terms, an increase in the variety of types of deposits offered by the bank. In recent years, the range of deposit services has expanded significantly and continues to expand, and banks are striving to take into account the needs of various categories of depositors as much as possible: hence youth deposits, pension deposits, deposits for VIP clients, etc.).
Other methods of managing attracted bank resources are the differentiation of interest rates; billing limitation.
It should be noted the desire of the bank to maximize the differentiation of interest rates on various deposit services in order, firstly, to satisfy the needs of customers as much as possible, and secondly, to ensure optimal profitability.
For the greatest interest of customers, Sberbank of Russia can offer interest payments on deposits placed forward in order to compensate for inflation losses. In this case, when depositing funds for a certain period, the investor immediately receives the income due to him. However, if the agreement is terminated ahead of schedule, the Bank will recalculate the interest on the deposit and excessively paid amounts will be deducted from the deposit amount.
Billing as a method of managing attracted resources is associated with the establishment and change of tariffs for certain banking services. Banking commissions and service fees (account maintenance, etc.) have a tariff basis. The Bank sets tariffs for opening, maintaining and servicing accounts separately for individuals and legal entities. Tariffs are set, for example, in relation to the following services regarding the attracted resources of individuals: opening an account (may be free); monthly fee for maintaining a personal account (charged without acceptance); crediting cash to the account (usually free of charge); Providing an account statement of all transactions completed.
The main purpose of the application and development of the charging method is to improve the quality of service and organize new forms of services, which ultimately aims to increase the total balance of funds in current, settlement and other customer accounts. With the same ultimate goal, limitation is carried out - this is the establishment of various restrictions (limits) by the bank.
Of particular relevance today is the portfolio method of managing attracted resources. The purpose of applying this method is to ensure a balance between attracted and allocated resources in terms of time and interest. Therefore, the Bank needs a competent deposit policy, which is based on maintaining the necessary level of diversification, ensuring the possibility of attracting monetary resources from other sources, and maintaining a balance with assets in terms, terms, and interest rates. In order to maintain a stable position and dynamic development in the deposit services market, a deposit insurance system was also created at Sberbank of Russia. This system is beneficial for both the Bank and its customers. For customers, the deposit insurance system is attractive from the point of view of the safety of their deposits in case of a possible bankruptcy of the Bank, which will provide this bank with comparative advantages compared to other banks where such a system is not available. This system gives the Bank an additional inflow of temporarily free funds of the population and legal entities in deposits, as will be sure that his contribution is protected in crisis situations. The inflow of funds will accordingly allow the Bank to expand its base for lending to the real sector of the economy. The objects of insurance as a matter of priority (due to the lack of sources of financing) are deposits of individuals, and in the future, deposits of legal entities.
Sberbank of Russia is included in the register of banks participating in the mandatory deposit insurance system. (Sberbank of Russia was accepted into the deposit insurance system at a meeting of the Bank of Russia Banking Supervision Committee on December 29, 2004). Starting January 11, 2005, monetary funds of individuals in rubles and foreign currency deposited with the bank on the basis of a bank deposit agreement or bank account agreement, including interest calculated on the deposit amount, are considered insured. It is obvious that the creation of CERs equaled Sberbank with other commercial banks, depriving it of competitive advantages from having a full state guarantee on all attracted deposits of the population.
Initially, the law provided for two features of its participation: 1) a special account will be opened for Sberbank, on which the funds transferred by it to the deposit insurance fund will be stored, these funds cannot be used to pay compensation to depositors of other banks; 2) until January 1, 2007, Sberbank depositors continued to have a 100% state guarantee.
However, despite the equalization of Sberbank’s rights with other commercial banks, it remains the largest bank in the country with the most developed branch network, which the population is accustomed to trust.
One of the solutions to the problem of revitalizing the Bank's activities to attract people's savings is the creation of a system of guaranteeing bank deposits. The introduction of a system of guaranteeing bank deposits solves the following tasks: protection of small depositors; increase in savings; increased competition in the banking sector.
In turn, the deposit guarantee system allows to solve the following tasks:
Attraction of long-term resources to the banking sector;
Increase in investment activity of credit organizations;
Increased confidence in the banking system, primarily from small investors;
Increasing the stability of the banking sector;
Reducing the likelihood of systemic risk.
The organization of a deposit guarantee system makes sense only if the goal is to maintain individual credit organizations, provided that the entire banking sector is stable. In the event of a systemic crisis, the partial guarantees on which the deposit insurance scheme is based will not lead to its preservation or recovery.
The adoption in December 2003 of Federal Law No. 177-ФЗ “On Insurance of Individuals' Deposits with Banks of the Russian Federation” predetermined a change in the near future of the qualitative characteristics of the banking system, among which the following are distinguished:
Increase its resource base. The transfer of financial resources to the banking system is estimated by economists in the amount of 10-20 billion dollars. Moreover, this process at the initial stage will be accompanied by an outflow of funds from the Savings Bank, the interest rates on deposits of which were traditionally lower than the interest rates of private commercial banks.
An increase in the share of deposits equivalent in size to the amount of guarantees (i.e., up to 100 thousand rubles). Accordingly, the strategy of individual lenders with larger amounts will be based on the allocation of funds to various credit organizations. This will achieve a uniform distribution of resources among commercial banks.
The emergence of alternative placement options for depositing funds. At the same time, banks will be interested both in reducing costs associated with the payment of insurance premiums, and in the desire to retain the most profitable customers.
Sberbank of Russia traditionally leads the private deposit market. Its deposits are concentrated more than 2.5 trillion. rubles. But commercial banks are not ready to accept its superiority and are beginning to actively offer new products, moreover, at a more attractive price than the market leader. That is why Sberbank of the Russian Federation needs to improve its deposit policy, taking into account the conditions of products offered by competitors.
It has already been mentioned above that the bulk of the funds raised by Sberbank of Russia are population deposits. However, statistics show that the share of bank savings in the total savings of citizens does not exceed 20-30%, which indicates significant opportunities for a significant increase in the passive base by attracting savings from the population. In fact, competition between banks for the funds of depositors today is only in the market of short-term savings of the population and does not affect the means of accumulation. The political and economic instability of the last decade, the distrust of citizens in the Russian currency, and the numerous facts of bankruptcy of large financial companies and banks hinder the involvement of household funds in economic turnover. As the economic and political situation in the country stabilizes, the possibilities of attracting these funds will increase. Competitive advantages in this market will be provided by banks capable of guaranteeing customers the safety of deposits, ensuring the provision of a full range of high-quality banking services.
The potential of Sberbank of Russia in the market for attracting funds of legal entities at the moment is also not exhausted. The ability to provide comprehensive services to the largest enterprises of the country with a developed regional structure throughout the Russian Federation makes it possible to secure the majority of large corporate clients in the Bank, and an extensive network of branches allows satisfying the banking needs of small and medium-sized businesses.
Based on the foregoing, we can also assume that targeted deposits will be beneficial for Sberbank customers, the payment of which will be timed to coincide with the vacation period, birthdays, or other holidays.
Their terms are shorter than traditional, and the percentage is higher. An example of a targeted contribution can be the so-called New Year and Christmas contributions, i.e. during the year, the bank accepts small deposits for the celebration of the New Year and Christmas, and at the end of the year the bank gives money to depositors. At the same time, those who wish can continue to accumulate money until the next new year. However, Sberbank of Russia among the priorities of the interest rate policy determines the increase in the share of long-term deposits.
The deposit policy of Sberbank of Russia determines that the deposits offered by the bank will take into account the needs of all social and age groups of citizens - working and pensioners, youth, middle-aged people and will be designed for both low-income groups and people with middle and high incomes.
Here, for clients with different income levels, the bank could offer fundamentally new financial services, for example, combining deposit products with credit and insurance products, develop products aimed at meeting the needs of depositors in housing, large purchases, payment for education, tourism and leisure.
With regard to attracting funds from legal entities, the Bank’s policy is very rational, however, Sberbank’s competitive disadvantage today is the low speed of payments in several regions, the lag in the quality of customer service, and the insufficient variety of product lines. Improving the interaction of the departments of Sberbank of Russia and the diversity of the product line will undoubtedly help attract funds from legal entities.
Creating an individual service system involves:
Offer the client specially designed individual schemes and technologies that ensure the development and optimization of the client’s business, insurance of his risks;
Assigning to the client personal managers with the necessary level of authority, providing clients with the Bank's technological and information capabilities, a wide range of consulting services;
Conducting a flexible tariff policy of individual service. In addition, Sberbank of Russia has unique opportunities to simultaneously promote a range of services throughout Russia with lower costs due to the consolidation of costs for the introduction of new technologies and advertising campaigns, but potential investors do not see advertising of banking products and services of Sberbank of Russia as such they don’t hear. It follows that the bank should develop systematic approaches to advertising policy, which will make it an effective tool for building a client base. Each competitive advantage of the Bank, each new product offered for sale should be known and understandable to customers, easily comparable, and also compares favorably with the offers of competitors. In order to speed up and make it easier for customers to obtain the necessary information about deposits with Sberbank, it is advisable to create a telemarketing service - advertising bank deposits by phone, which will be provided free of charge.
Telephone customer service conducts individual work with clients interested in receiving more detailed information, and with clients who are not satisfied with standard conditions of service. It is not necessary to be a client of this bank. The information provided by this service should reflect the content of the type of services and the possibility of their acquisition.
In the event that the client finds it difficult to state his problems, telemarketing service specialists will ask leading questions: what means he has, for how long he wants to put money on a deposit, what profit he expects, etc. And then they will recommend the contribution that most suits the conditions of the client. If the client decides to leave information about himself in the database of the information system, then after a while they will send him not only reference information about new banking products and services, but also forms of necessary documents.
As a result of this, telemarketing will satisfy most of the initial calls and thereby will help attract new customers to Sberbank.
Thus, Sberbank of Russia, being the leader in the retail services market for the population, does not fully use the opportunities to sell packages of comprehensive services to all categories of citizens. The competitive advantages (own settlement system, extensive network of branches) are poorly realized in the Bank’s work in the legal entities servicing market. The lack of a strategy for working with certain groups of customers, the fragmentation of the services provided and the lack of a reasonable balance between the sale of standard types of services and individual services, the lack of flexibility in the tariff policy do not allow the effective use of available opportunities and require an early review. The volume of services rendered does not correspond to the place of the Bank in the country's banking system and should be substantially increased.
Also, in order to improve the deposit policy, Sberbank could offer a number of deposits aimed at high-income customers. For example, a contribution, the feature of which would be that the personal data of the client would be known only to one person in the Bank - the manager for working with VIP clients. Moreover, interest may be paid monthly, including on a plastic card issued by the Bank free of charge. Moreover, even when depositing money into the cash desk, the client’s identity is not disclosed, which means that the middle and junior staff of the Bank will not be aware of any data about the client and the risk of disclosing information about the deposit is negligible.
Thus, when developing a deposit policy, Sberbank should be guided by certain criteria for its optimization, among which the following can be distinguished:
The relationship of deposit, credit and other operations of the Bank to maintain its stability, reliability and financial stability;
Diversification of the Bank's resources in order to minimize risk;
Segmentation of the deposit portfolio (by customers);
Differentiated approach to various customer groups;
Competitiveness of banking products and services.
Raising funds of private clients and ensuring their safety remains the basis of business Sberbank of Russia PJSC raises funds for term deposits, demand deposits, including bank cards, savings certificates, bills and accounts in precious metals. The volume of attracted funds of individuals, including term deposits, demand accounts and bank cards, as well as funds in precious metals for 2015 increased by 2.2 trillion. rub. and by January 1, 2016 exceeded 10.3 trillion rubles. (Table 2).
table 2
Structure of funds of individuals of Sberbank of Russia PJSC
The growth rate according to the results of the reporting year (27.2%) exceeded the growth rate of funds of individuals according to the results of the previous year (4.9%). The main increase was due to fixed-term ruble deposits. The volume of foreign currency deposits also increased in dollar terms. Some of the deposits are open in remote channels.
During 2015, with a general market trend for reducing deposit rates and with the dynamics of the Bank of Russia key rate, Sberbank lowered interest rates on deposits in rubles and foreign currency six times, including savings certificates for individuals. Promotions on ruble products, maintaining a competitive level of rates on foreign currency deposits, as well as new deposits for affluent customers allowed Sberbank of Russia PJSC to retain its market share on term deposits in rubles and significantly increase its share on foreign currency deposits (Table 3).
Table 3
Share of PJSC Sberbank of Russia in the Russian market of retail deposits
As of January 1, 2016, more than 170 thousand customers have registered the Sberbank Premier package of services and more than 22 thousand VIP clients use the Sberbank First package of services.
As part of these packages, customers receive premium debit cards for themselves and their loved ones, PriorityPass cards for access to the business lounges of the largest airports in the world, have the opportunity to take advantage of preferential exchange rates for precious metals and precious metals, as well as a discount on the use of safe deposit boxes. Each package has a special line of deposits with a higher interest rate, as well as higher rates on savings accounts.
Sberbank of Russia PJSC separately stands out work with the Social segment. The level of protection of the interests of pensioners on the safety of their deposits from encroachments of third parties has been increased. A memo has been developed for employees of the departments for protecting the savings of pensioners and disabled people from fraudulent actions of third parties. Now, having performed simple actions, branch employees can stop fraudsters, prevent them from taking advantage of credulity and tricking customers into consuming transactions on accounts. The procedure for obtaining a pension on accounts at the Bank has been simplified: a pension delivery statement is automatically printed when the account is opened, which frees up 15 minutes of customer time and eliminates the time-consuming manual filling of details. Work is underway so that pensioners can draw up documents for the delivery of pensions remotely through their personal account on the Unified Portal of Public Services.
Sberbank of Russia PJSC presents various deposit programs. Therefore, every citizen of Russia can use the most convenient program:
· “Keep the contribution”;
· "Savings certificate";
· "Urgent";
· "Deposit for people of retirement age."
A large banking institution has developed an original program with about 13 options and conditions for depositors. Moreover, 8 of them are replenished monthly, and 4 programs can offer a partial withdrawal of savings funds. The bulk of deposits allow capitalization of rates to be realized. As a result, payments on deposits amount to:
About 2% of annual funds in euros;
10% in domestic currency;
3% in dollars.
People of retirement age most often use the “Replenish” and “Save” deposits. The conditions of these deposits are almost identical with deposits for other categories of people. The only difference is the deposit rate. It depends on the period of the accumulative funds. To increase your equity, you can use the online deposit.
The pension program Pension Plus is very popular among pensioners. According to the terms of this deposit, profit is accrued in the form of a certain pension premium. In addition, there is the possibility of an additional contribution and partial withdrawal of accumulated interest. The total rate on this deposit is 3.72% per annum.
“Happy Interest" is a new contribution for citizens. The total rate on this deposit depends on several factors:
The economic situation in the state;
Inflation rate;
The total amount of banking resources;
Business activity.
Banking offers of deposit programs depend on the listed criteria. In addition, most of these factors are aimed at the main position of the Central Bank of Russia.
Sberbank regularly carries out various upgrades in the field of deposits. New programs for the accumulation and saving of financial resources appear. Even in spite of the crisis in Russia, investors manage their savings funds based on the proposed banking programs. Savings deposits will help:
Monthly withdraw interest income;
Get the most profitable profit;
Place and replenish funds;
Use the most profitable programs for a period of 3 to 6 months;
To withdraw accumulated money in case of emergency.
Sberbank of Russia PJSC offers every citizen of the Russian Federation a flexible system of cash deposits. Everyone can choose the validity period of storage of accumulated funds. For example, a term deposit "Replenish" is issued after 3 months. This contribution is valid for several years (3 years).
Sberbank of Russia PJSC offers various deposit programs with optimal deposit rates. The new “income season” contribution guarantees a good profit of up to 11.7%. The smallest amount for opening a deposit account is at least 1 million rubles. The “Save” deposit provides an excellent opportunity to draw up a deposit in foreign and domestic currency. The smallest investments from 110 euros and dollars, 1100 rubles. The ruble deposit is 6.32% -9%, and in euros 0.15% and 1.9%, in dollars 0.25% and 1.8%.
The “Manage” deposit provides an opportunity to regularly deposit accumulated funds and partially withdraw. The initial amount for making a deposit is from 31,000 rubles and 1,050 dollars and euros. The total rate is 5.77% to 7.34% in rubles, 0.3% and 1.6% in euros, 0.7% -2.64% in US currency. General rates on bank deposits are not too high. However, customers can increase their equity and not worry about the safety of financial savings. “Replenish” deposit program for people who want to regularly deposit money. The smallest amount for making a deposit is 100 euros and dollars, 1100 rubles. The general rates on the ruble deposit are about 6.85% -8%, the dollar one 0.8% -2.72%, the euro 0.53-1.8%.
"Multicurrency" deposit is made in several currencies. The smallest amount to replenish the account is 110 dollars or euros and 1100 rubles. There is also the possibility of income from changes in the exchange rate. Deposit rates for domestic currency are 0.015% -6.7%, dollar 0.01% -2.7%, euro 0.01% -1.6%.
The “international” contribution provides for the possibility of using many foreign currencies. As a result, a bank client can earn extra money on exchange rate fluctuations. The general rates for deposit programs are: 0.1% -2.7% francs, 0.3% -2.7% yen, 0.7% -4.5% pounds sterling.
The programs “Save”, “Replenish”, “Manage” are presented on the official website of Sberbank of Russia PJSC. In addition, a banking institution offers an online application for opening a deposit. The conditions for replenishment of the account are identical to other deposits. However, interest rates are slightly different:
“Save online” 6.45% -9.47% in domestic currency, 0.25% -2.14% in euros, 0.45% -3% in dollars;
“Replenish online” 7% -8.8% for rubles, 0.6% -2% for the euro, 1.01% -3% for the American currency;
“Manage online” 6.2% -7.6% in ruble currency, 0.57% -1.8% in euros, 1% -2.9% in dollars. According to this information, everyone can choose their preferred deposit option. Funds can be invested in any of 3 bank accounts.
Russian citizens can invest in both domestic and foreign currencies based on their own preferences. American dollars or pounds sterling, euros, yen.
Bank interest depends on the initial deposit and deposit account. Replenishment programs in dollars and euros are executed for all deposit accounts.
For a more detailed analysis, it is necessary to examine deposit accounts:
"Multicurrency deposit";
"Happy year";
“Save”;
"Replenish."
The most profitable deposit program in domestic currency is offered by “Happy Interest” and “Savings Certificate”. These programs offer high rates for each investor.