The EUR100,000 cap up to which thestate guarantees banking deposits set up with domestic lendinginstitutions covers approximately 750,000 BCR clients, state therepresentatives of the biggest bank in terms of assets.
"Depositors can feel highlyprotected as the banking system currently has not just one, buteven two or three «airbags»: the deposit guarantee fund, cashbuffers and BNR's capital requirements", says Dominic Bruynseels,BCR CEO.
BCR boasts the biggest marketshare on the retail deposit segment, standing at 23.3% at the endof March, almost steady against the 23.2% a year ago, after aslight decline registered 2010 amid the high-interest war mainlyfuelled by Greek-held and also by Romanian-held banks. On thecorporate deposit segment, the bank's share amounts to 17%, havingconstantly increased over the past year.
The bank has around 4 millionclients using various products and services, but there are no dataon the exact number of people holding a deposit.
As for the future policy of thebiggest bank on the market in terms of deposit interest rates, amidthe high inflation rate, Bruynseels says the strategic target isfor the bank to be among the top three both in terms of price leveland product affordability.
"Our basic strategy is to havestable deposits, both in form of salary account cash and savings.We will be offering fair interest rates, which should be among thetop three on the market, so that our clients should feel encouragednot to seek better offers with other banks".
For euros, an upward interesttrend is expected, while for lei BCR head anticipates a period ofstability over the next six months.
The bank has for around one monthgiven up constantly renewing deposit interest promotions, with theonly incentive offered now being the extra 0.25% offered fordeposits opened online or by phone.
"We've managed to change the rulesof the game on the deposit market, so that interest rates havefallen in the past four or five months. We're satisfied with theircurrent stabilization and now clients can switch to longermaturities for savings".
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