DR - Rate Changes

Rates round-up

Monday 12th of October 2009

SBS chief sees deposit war going for at least another year
Ross Smith, chief executive of the Southland-based bank SBS, expects the deposit rate war to continue for another year, as the major banks prepare for central bank-enforced liquidity requirements.

With the majority of their funds sourced from offshore wholesale customers, they have had to offer high yields...

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