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Uralsib expects rise in loan and deposit rates
RBC, 24.09.2008, Moscow 18:33:40.Interest rates on bank loans and deposits are likely to be increased by the end of the year, Ilya Filatov, Deputy Chairman of the Executive Board of the financial corporation Uralsib, told journalists today. Commenting on an increase in interest rates this spring, he pointed out that it was not the last hike this year. Filatov also stressed that retail banks would be affected by the recent collapse of the financial market. Retail banks are likely to consolidate, Filatov said, adding that there would be less retail players on the market. Speaking about the latest trends in the lending sector, he maintained that the real estate market had become more volatile. Uralsib's loan and deposit interest rates will on the whole be set at market levels, Filatov added.
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