Banking revives a product in decline for a decade

Deutsche Bank hopes and revives new scenario of interest rate hikes in Europe depositA savings formula that has been in decline for almost a decade, with returns that for now only a few institutions offer, including Neobank Orange Bank hey my investor,

This movement represents the first stage that a change in trend can occur. European Central Bank (ECB) starts raising the price of money to cope with the rise in inflation, but experts agree there is still time for big banks such as SantanderCaixaBank, BBVA, Sabadell or Bankinter do this.

without remuneration

At the moment, none of these entities remunerate their clients’ deposits, especially when it comes to companies with large assets or significant amounts, even pagan To keep that money safe in the bank.

This explains why other options have exploded in recent years, such as investment funds, to obtain private clients. Return for your money.

In the past, savings deposits were one of the preferred options in Spain by the most conservative customers, who could have averaged returns of close to 5% in September 2008, before declining. Lehman Brothers and that B.C The rates were reduced from 4.25 to 3.75%.

From that moment, in line with the successive cuts in interest rates, banks gradually reduced remuneration on deposits, particularly throughout 2012, to the extent that average profitability was less than 2% at the beginning of 2013 and at the end of 2012. According to the figures for the year, it was about 1.5% bank of spain,

In the past, savings deposits were one of the preferred options in Spain by the most conservative customers.

In mid-2014, after the ECB cut interest rates on the ECB before the summer of that year, the yield was already below 1%. 0.25 Al 0.15%A percentage that will drop to 0.05% in September, further reducing the remuneration of customer savings, which barely reached 0.4% at the end of 2015.

happened after the lace B.C The price of money dropped to 0% in March 2016, meaning that the average return on deposits in Spain stood at 0.1% in the same year, and it continued to sink progressively closer to and closer to 0%. In March 2022, the latest available data, it was 0.04%.