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CBR releases May rates stats

 
28.06.2012

The CBR has published May statistics for interest rates on corporate loans and retail deposits up to one year. The key takeaways are as follows:

Corporate lending rates rebounded to 10.0% from 9.6% in April back to the August 2010 level, i.e. a 21-month high. The three-month moving average rate rose 20bp.

Retail term deposit rates increased moderately, rising 20bp MoM to 7.9% and up 20bp for a three-month moving average, recovering to the June 2010 level. Nevertheless, the spread has widened 20bp to 3.2%.

Still, with rates climbing, we expect assets repricing to accelerate further in 2H12, which will support margins.

Mikhail Shlemov, Svetlana Aslanova
VTB Capital analyst

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CBR

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