| The General Direction of the JSCB “EXIMBANK - Gruppo Veneto Banca” at its meeting on March 30, 2009 adopted a decision to reduce annual interest rates on time-deposits in foreign currencies attracted from individuals. Thus, depending on deposit term, the annual interest rates will be reduced by 5.5 per cent.
It is necessary to mention that this is a second consecutive reduction of the annual interest rates on attracted time-deposits during current year; the first one being made on the February 4, 2009. The reduction of the annual interest rates is determined by the influx of funds in foreign currency to client’s accounts, including time-deposit accounts, and this has process intensified since the beginning of the year.
Reducing the annual interest rates paid on attracted deposits is one more measure undertaken by the Bank in the view of optimization of the Bank’s costs for improvement of the efficiency indicators, confirming thus the Bank’s position as one of the reliable financial institutions of the country.
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