Undignified banks are into ads of increased deposits rates - Kelimbetov

Date: 09:43, 13-05-2014.

Astana. May 13. KazTAG - Undignified banks are into ads of increased deposits rates, while dignified Kazakhstani second tier banks have lower deposit rates, said Kairat Kelimbetov, chairman of the National Bank.

"We are adhered to certain rules. One of such rules- is that recommended rate of the National Bank is given to our banks for them to attract deposits. Today the rate in the national currency is not higher than 10%, it has been increased recently from 9% to 10%. The recommended dollar rate- 4%, it has been reduced from 4.5% to 4%. We stimulate depositors to save money in tenge," he said.

"Undoubtedly some banks are into increased rates, there are different ads, and it is not always honest in my opinion. The more dignified a financial institute is, the lower deposit rates it has," he said.

He reminded after tenge devaluation in 2014 there was crossflow of deposits into foreign currency.

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