On December 9, 2024, significant updates emerged from the banking sector and currency markets, impacting investor sentiment globally.
In Russia, VTB Bank launched its high-yield savings account, the 'VTB-Savings Account', offering a promotional interest rate of 24% for the first three months. This account is available to new customers or those with a balance under 1,000 rubles in the last 180 days. After the promotional period, the rate drops to 18% for salary or pension account holders. The base rate is set at 12% with a minimum deposit requirement of 1,000 rubles.
Meanwhile, TKB Bank introduced its 'TKB. Beneficial' savings account, featuring a 24% rate for the first two months. Customers must not have any active deposits or savings accounts exceeding 3,000 rubles in the past 90 days. The base rate after the promotional period is 19%.
Gazprombank's 'Savings Account' also offers a 24% rate for the first two months, contingent upon account conditions. The minimum deposit is 5,000 rubles, with a base rate of 10% applying thereafter.
In the Asian markets, trading remained cautious amid ongoing political instability in South Korea, with the KOSPI index declining by 2.78%. In contrast, Hong Kong's market showed resilience, closing up 2.76% after the Chinese government announced further measures to boost consumer spending.
Overall, the developments in the banking sector and fluctuations in currency values reflect a dynamic financial landscape, with investor focus shifting towards high-yield savings products and regional market responses to political events.