BERLIN, Oct 6 (Reuters) – Deutsche Financial institution’s (DBKGn.DE) head of personal banking, Lars Stoy, expects deposit rates of interest to extend additional after the European Central Financial institution turned to elevating charges, the Frankfurter Allgemeine Zeitung quoted the manager as saying on Thursday.
“Just a few weeks in the past, we at Deutsche Financial institution started to lift the deposit charges for our clients,” the newspaper cited him as saying. “However I assume that additional steps will observe subsequent yr, for the Deutsche Financial institution model in addition to Postbank.”
Competitors amongst banks for deposits will improve once more, Stoy informed the newspaper. “We’re already occupied with deposit campaigns.”
Following up on a big July fee hike, the ECB final month raised its deposit fee to 0.75% from zero, the very best degree since 2011, with strikes promised for the following a number of conferences.
Register now for FREE limitless entry to Reuters.com
Reporting by Sabine Wollrab; Writing by Miranda Murray; Enhancing by Christopher Cushing
: .
