Bosnia – Balkan Investment Bank reports 7.5% growth in deposits in first month of savings promotion campaign

Balkan Investment Bank (Балкан Инвестмент Банка а.д. Бања Лука), a Lithuanian-affiliated bank operating throughout Republika Srpska (one of the two main entities comprising the nation of Bosnia and Herzegovina), announced that in the first month of its campaign “Put open savings in first place!” (Otvorena štednja na prvom mjestu!) the volume of the bank’s deposits had increased by 7.5%.  The promotion, which began on 19 September 2012 and will expire on 31 December, features annual interest rates on time deposits in Bosnian marks (BAM) or euros of 3.50% for 3 months’ maturity, 4.00%  for 6 months, 4.50% for 12 months, up to a maximum of 6.20% for 60 months.  The minimum deposit amount is 300 BAM or 150 EUR, and deposits of physical persons are insured up to 35,000 BAM (per depositor per institution, with accrued interest included) by the Deposit Insurance Agency of Bosnia and Herzegovina (Agencija za osiguranje depozita Bosne i Hercegovine).  The bank also reported that retail long-maturity time deposits at the bank had increased by 16.17% so far in 2012.

Source: BIB ostvarila za mjesec dana rast štednje od 7,5 odsto (2012-10-29 10:27)

See also: Otvorena štednja na prvom mjestu! (2012-09-19)

Mark Pleas

Eastern Europe Banking & Deposits Consultant

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