BANCI | ENGLISH

Millennium Bank launches package with 10% annual interest rate RON deposit and investment fund

Autor:

2010-07-09 13:05

Millennium Bank launches Dual Package, a saving and investment instrument for individuals, made of a special interest rate RON deposit and an investment fund, said the bank in a press release. rnrnThe deposit has a three-month maturity and offers a special interest rate, of 10% per year, and Integro is an open-end investment fund managed by Pioneer Asset Management. Integro is a fund with moderate investment risk, thanks to the investments portfolio, consisting of both fixed income instruments – bank deposits, bonds, state bonds – and listed shares.rnrn“It’s the first time such a product is promoted as a mass-market package, through an outdoor and indoor advertising campaign. Dual Package gives our clients the possibility of placing money in an advantageous way in two different products and, thus, diversify their saving and investment portfolio”, stated Eliza Erhan, Head of Retail Product Development at Millennium Bank. “The investment funds market is still in an early phase in Romania, but we are well prepared and eager to offer such products to our clients and, thus, contribute to their introduction in this field”, Eliza Erhan added.rnrnThe minimum investment amount for Dual Package is RON 1,000, 50% of the total amount is placed in the term deposit and the other 50% in the investment fund. Clients can withdraw their money from the fund at any time, with no penalty fee, but the recommended investment period is of at least two years. The money placed in the bank deposit receives 10% annual interest, the calculated amount being paid at the maturity date in the current account of the customer. rnrnWith the launch of Dual Package, Millennium Bank enters the market of investment funds distribution and offers its clients two Pioneer open-end funds: Integro and Stabilo.rn

Taguri:

Comentarii

Nu există comentarii pentru această știre.

Adauga un comentariu

Alte stiri din categoria: ENGLISH

Neutral interest rate in Romania

The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank

Merger of Alpha Bank and UniCredit Bank Romania

Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii