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Financial products that banks will promote in 2021

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发表于 2024-2-15 19:34:55 | 显示全部楼层 |阅读模式
The year has been marked by one theme, the coronavirus pandemic , and the banking sector has not escaped its effects due to the continuous shutdowns of activity to avoid contagion, the economic impact and the fact that the policy of zero interest by the European Central Bank (ECB).

Therefore, banking entities have had to make a change in their strategy , and have had to increase the pace of cost reduction and find new sources of income .


The year is the year of concentration and increase in bank fees with low profitability for savers
During this year we have seen new concentration processes of Spanish banking entities , with mergers in negotiation processes. In addition, the banking sector has to reorganize its business models, which have seen an increase in commissions and growth in the digitalization of its organizations.

The main objective of all this is to maximize profitability and guarantee the future viability of its financial entities in the face of the expected avalanche of defaults.

The economic rece  Latvia Email List  ssion caused by the coronavirus has lengthened the shadow of the application of negative rates and, therefore, a flat return for investors and banking entities.



Next year we will have fewer banking entities , with unprofitable savings products, cheap mortgage loans, especially those with fixed interest rates, and greater demands regarding the linking of banking entities.

Bank deposits for banks are a residual product
Although Spanish families have decided to save more this year due to the pandemic, it is estimated that bank deposits will yield billion euros , the interest pays off a lot. This means that you are saving in case things get worse and you do not consume as much.

With interest rates at a minimum and an increase is not expected in the short or medium term, the tendency for the profitability of deposits is to decrease, which on average will be above percent. It is expected that interest rates will fall even further during and

Spanish banking entities have long had this type of financial product as a residual. They use this product to carry out promotions and attract new customers.

The best paying bank accounts don't even think about them
The interest rates on accounts with some type of remuneration have also become something that is not very successful due to the low interest rates. The majority of banking entities have gone from paying money for having clients' money to charging for having their money in their banks.

Now most of the accounts have maintenance fees and some services that have been added at the general management level and, generally, to reduce these expenses you have to have payroll, receipts, car and home insurance, and have the cards.

Those that charge the most to clients who are not linked to this type of products are Banco Santander and CaixaBank with euros per year . Clearly abusive commissions and can be considered usury, which only try to fill the pockets of these banking entities .

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