OREANDA-NEWS. June 27, 2009. The results of Savings Days organized by Latvijas Krajbanka show that also during this economically complicated conditions people use a good opportunity to accumulate funds. The accumulations are mainly made in euros. The popularity of Savings Days deposit shows a healthy tendency – trying to save the biggest possible sum of money, considering it the guarantee of financial stability, reported the press-centre of Latvijas Krajbanka.

Also this year Latvijas Krajbanka organized Savings Days – a special deposit campaign, during which it is possible to deposit funds on one of Krajbanka term deposits at especially beneficial rates. The clients accepted the offer with a keen interest and during ten days deposited more than 20 million lats.

Judging by the interest rates on the market, the residents’ interest was determined not only by high interest rate, but also by several other factors. „The term choice played a great role. This time instead of three-month deposit term we offered six-month deposit term. Also the today’s economic situation in Latvia has changed peoples` philosophy, and more clients are paying attention towards accumulation of funds,” by the end of Savings Days summarizes Inara Basse, the head of Client service division.

The annual interest rate of the Savings Days six-month deposits comprised 12.19% for deposits in lats, and 8.19% for deposits in euros.

According to data of Association of Latvian Commercial banks as of the end of April 2009 AS „Latvijas Krajbanka” ranked the third place in the banking sector according to the amount of private persons` deposits and it was one of the Latvian TOP 10 banks in terms of assets amount.

This year Latvijas Krajbanka celebrates its 85th anniversary. The bank was established in 1924 and since that time it was focused on private persons` servicing, offering possibly wider choice of saving products. Now Latvijas Krajbanka is also the biggest commercial bank in Latvia in terms of client service centre number.