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Banks looking for lower savings account interest rates

Banks looking for lower savings account interest rates

Tuesday, March 28, 2017, 2:31 PM

Falling growth in loans is making banks to look at the possibility of lowering the interest rates on savings bank accounts so as to improve their pre-provision operating profits, says investment banking firm Jefferies. According to the report, with falling loan:deposit ratios, weak loan growth and compressing spreads, banks are looking at the possibility of lowering the savings interest rates.
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