LOCKO-Bank Retail Deposit Portfolio Exceeds RUB 1 billion in Nizhny Novgorod

LOCKO-Bank demonstrated a significant increase of retail customers deposit portfolio in Nizhny Novgorod. The deposit portfolio increased by RUB 300 mln. in 9M2014 and amounted to more than RUB 1 bn. as of October 9, 2014. Thus, the retail deposit portfolio growth exceeded 40% in Nizhny Novgorod from the beginning of the year. The growth of the portfolio was 25% over the same period of 2013.

Vladimir Savin, Director of LOCKO-Bank’s operation office in Nizhny Novgorod:

“We achieved a significant increase in one of the key banking indicators due to the continuous improvement of the customer deposits placement conditions as well as the active involvement of new customers with a large advertising campaign. LOCKO-Bank’s deposits became a reliable tool for saving and accumulating funds for our clients. We are going to demonstrate a constant increase of the portfolio due to a competent strategy of deposit products promotion.”

There are 4 types of deposits in LOCKO-Bank at the moment, depending on the product the deposit can be opened both in rubles and in foreign currency at the rate of 12% per annum (in rubles), and to 4.50% (in foreign currency) for the period from 180 to 1100 days.