SEB considers negative interest on business deposits

DELFI / Mindaugas Ažušilis

Riho Unt, SEB head for the Baltics, has told the Latvian business daily Dienas Bizness that after the European Central Bank (ECB) cut interest rates, the Swedish bank is considering actually charging clients for depositing funds.

He said the negative interest rates would apply to big companies that deposit big sums of money in their SEB accounts.

The ECB announced on Thursday that it had cut its main refinancing rate to 0.0 percent and its deposit rate to -0.4 percent.

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