During last January, 25 banks with operations in Colombia recognized an average rate of 17% in the CDT Term Certificates of Deposit at a one-year term, a figure that triples what they paid a year ago.
(One-year CDT rates rose fourfold.)
This figure corresponds to the data that these entities reported to the Financial Superintendence regarding the recognition of the resources that their clients, individuals or companies bring them.
This rate is high, because with the monetary normalization process that the Banco de la República launched since September 2021, increasing interest rates, and which has not ended, In order to combat inflation, rates for deposits (CDT and savings accounts, especially) and placement rates (credits) have been rising.
Within the commercial strategies of banks, it should be mentioned that the rates they pay are related to some aspects that may vary by geographical area or type of branch.
(The reign of savings and CDT is consolidated in the country).
Within the ranking prepared by Portafolio, Banco Santander Colombia appears first, which according to the report to the The Financial Superintendency recognized an effective annual rate of 19.29% to these one-year papers.
Said bank, for some years now, has only worked with the corporate sector and not with natural persons, so that this rate can be enjoyed by the companies that it has as clients.
In second place is Banco de Bogotá, with an average rate of 18.94%, this is indeed aimed at all its clients, individuals and corporations.
Next in the first month of the year was Banco Davivienda, with 18.51% in its 360-day CDTs.
(How it works and what to consider when opening a CDT).
In the last year there has been strong competition from financial institutions in Colombia for the resources they receive from the public to comply with technical requirements related to international banking legislation known as Basel III.
Banks need good liquidity to face credit growth and the Cefen (Net Stable Funding Ratio), which seeks that financial entities maintain a stable funding profile in relation to their assets.
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