KCB Group CEO Paul Russo has just one rallying call to his team: ‘Go find cheap deposits’. He wants them to thrive at what has been one of the toughest tasks for his team and indeed the banking sector this year.
Banks have watched as the number of customers opting to invest directly in government paper rise, forcing them to increase returns on deposits to levels last seen 26 years ago in an attempt to stop the flight to Treasury bills and bonds.
