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Business Deposits:

Do NI Businesses behave differently to their GB Counterparts

Explore how Northern Irish businesses can leverage the emerging opportunities in business deposits. Drawing on Savanta's MarketVue Business Banking tracker, look into the usage of savings accounts and the potential for banks to capitalise in this new economic climate. Following interest rate rises, have businesses in NI taken a different approach to GB? Download the report below.

Philippa Whitham Senior Director 3 April 2024

Since December 2021, the Bank of England has been steadily increasing interest rates, elevating the base rate from 0.25% to 5.25% in August 2023.

With rates at their highest since 2007, banks have responded by offering new savings products and/or higher interest rates to businesses, many of whom did not exist last time rates were so high.

Savanta recently asked businesses in Northern Ireland whether they had taken any actions on their usage of business savings accounts with recent increases to interest rates.

Read the full NI story here.

Read the GB perspective here.

Find out more about MarketVue Business Banking:
MarketVue Business Banking offers comprehensive, reliable insight, supported by years of historical data. It’s a truly essential management and monitoring tool trusted by major financial institutions.

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