With the increase in interest rates by the Banco de la República and the transmission to the financial market, debtors have begun to feel the adjustment in their obligations, and On the side of savers, they have seen how entities recognize higher interest rates on their resources.
(Captures maintain real negative rates).
This situation was reinforced in June, as the banks, seeking to consolidate stable funding ratio requirements, a figure enshrined in the Basel III agreements (international regulatory framework for banks), have launched to compete for resources that benefit the saver .
According to figures from the Financial Superintendence, in June the average deposits of Colombian banks for one-year terms was 10.37% cash, figure that contrasts with the average of 3.16% that they recognized in June 2021.
In September 2021, the month in which the Banco de la República began to normalize its monetary policy and raise interest rates, the average rate that these entities paid their clients on average was 3.38%that is to say that, just like what has happened with credits, the transmission of the increase in the main monetary policy indicator of the Colombian issuer has taken place quickly.
ON TOP OF INFLATION
The average rates recognized by banking entities for a one-year term are already, with the exception of a few cases, above annual inflation, which in June was 9.67%.
According to information from the Superfinanciera, in June three banks recognized interests above 12%. These are Mibanco, which paid an average of 12.20% for its deposits, followed by Banco AV Villas with a rate of 12.15% and Banco Falabella with an average of 12.03% cash.
(How to open an account in dollars abroad from banks in Colombia).
With rates above 11% were Itaú banks, with 11.97%, Banco de Occidente with 11.67%, Credifinanciera with 11.24% and Banco de Bogotá with 11.11%.
Among some of those who were above the 10% include Banco Pichincha, with 10.99%, Coopcental with 10.92%, BBVA Colombia with 10.87%, Finandina with 10.82%, Davivienda with 10.59% and Scotiabank Colpatria with 10.45 %, Banco Serfinanza with 10.31% and Banco Mundo Mujer with 10.12%.
Among the banks that pay interest rates on their deposits above 9% are Bancoomeva, with 9.78%, Banco W with 9.70%, Bancamía, with 9.69%, Banco Popular with 9.54% and Banco GNB Sudameris with 9.49%.
According to a report by the brokerage firm Casa de Bolsa, primary deposits with CDTs in the first half amounted to $40 billion.
The firm says that in the monthly trading ranking of CDTs by issuer, Bancolombia led the list in the primary market.
INTERESTS REMAIN HIGH
According to Ana Vera, chief economist at the firm Inon Capital, deposit rates or installment products are gradually adjusted with increases in interest rates from the Banco de la República, “a little slower than credit rates, but in an environment of liquidity pressures, the adjustment is accelerated, which is what we are experiencing now”.
In addition, the economic analyst indicates that “this situation will continue to rise” because the Banco de la República will continue to raise its rates.
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