How banks work in quarantine. Credit Dnepr Bank Expert on Current Banking Market Trends

28 April 2020

State restrictive measures have become a major challenge for all segments of the economy, including the banking sector, which is inherently the financial circulatory system of the country, therefore, its success depends directly on economic, financial, exchange rate stability and predictability.

Denis Mihov, Business Development Director of Bank Credit Dnipro, told about the main priorities of anti-crisis business strategies and new principles of working with clients during the quarantine period, credit breaks and situations on the deposit market.

“As a socially responsible company, we consider people's health and safety a top priority and keep in constant communication with customers to develop the optimum format for receiving banking services during this period, with a focus on remote service channels. Most banking operations - deposit and current account management, payments and transfers, currency exchange - clients can make remotely in the FreeBank Internet banking system, ATMs and PTCS, through the financial institution's infocenter », - says Denis Mihov.

The expert noted that today the situation in the deposit market is working, banks clearly fulfill their obligations to customers. Most deposits are fixed term, which makes the deposit portfolio more stable and its dynamics more predictable.

At the same time, depositors are unlikely to agree to not receive their deposits along with accrued interest because borrowers refuse to service their loans. Therefore, the responsibility of clients and their understanding of the need to fulfill their financial obligations is an essential condition for the stable operation of banks, the financial system and the economy of the country.

The full text of the expert material can be found at the link.

 

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