Making deposits in Russia of more interest

With Russian banks desperately in need of money, biggest player Sberbank has increased rates on some of its rouble retail deposits to raise cash from individuals. Analysts say other banks are likely to follow the leader.

State giant Sberbank, that holds almost half of all individual deposits in Russia, says it will increase rates for some deposits and deposit certificates by up to 1.5%, with the highest to stand at 7.25%.   More Read