03.12.2021

BANKER: NEGATIVE INTEREST RATES WILL BE WITHHELD

Negative interest rates - a phenomenon that has long been observed outside our country, logically does not pass Bulgaria. This period of negative interest rates worldwide not only lasts a long time, but is expected to continue in the future.

This is stated in an address by Diana Miteva, Chairman of the Board of the Association of Banks in Bulgaria, on the occasion of Banker's Day.

The complex, volatile and unpredictable economic environment in which banks operate makes them flexible and adaptable. The good news is that as banks adapt to the new reality, so do their customers begin to realize it and accept the fact that bank deposits have their alternatives in storing money, Miteva said.

According to her, customers are beginning to reorient to new tools for storage and investment, such as mutual funds, trust management and other solutions, with the help of banking consultants. Investments in this type of product are growing at a rapid pace, with significant growth compared to last year.

This shows that customers rely on banks to be their trusted partner in managing and storing their money and finding the best individual options and approaches tailored to their needs in a dynamic and rapidly changing reality, added the Chairman of the Board.

She reminds that in times of crisis, ill-wishers often appear, trying to take advantage of the turmoil created by extraordinary circumstances, such as the pandemic, and to mislead citizens in order to gain access to their funds in one way or another.

That is why it is crucial that banks and citizens work together to counter these attempts. Banks could continue to provide the same level of security only in partnership with their customers, the statement said.