Based on its poll of Ukrainian commercial banks, PRAVDA Research has ranked Alfa-Bank as one of the three leading banks in terms of best-value deposits among the Top 10 banks for inspiring confidence among their customers.
The study involved two stages. The first stage selected banks in according to a customer confidence profile. The initial formula to determine this index divided the volume of personal deposits by the total volume of deposits on the market plus the increase in the volume of personal deposits divided by total growth of deposits on the market.
During the second stage, the Top 10 banks, that is, those demonstrating the highest level of customer trust, were ranked according to the value of their deposit features. The key ranking factors here were: the level of deposit interest rates, options available to select the most suitable deposit, and the loyalty of the bank towards its customers.
“As financial markets began to exhibit instability and their fundamentals looked less and less sustainable, many depositors have become increasingly concerned not only about the immediate benefits of deposit programs, such as ‘juicy’ interest rates and the quality of client care, but also about the reliability and stability of the financial institution itself, to whom they are likely to entrust their savings,” says Taras Volobuyev, Director of Retail Product Management, Alfa-Bank (Ukraine). “Under these circumstances, the actual financial state of the business and good ratings from international agencies are likely to become the deciding factor.”
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