Time-limited deposits aimed at middle; other banks say concept's old

The country's oldest bank recently rolled out its new Eurotop 50, a time-limited deposit that allows clients to invest in the biggest blue-chip companies in Europe with no risk of losing their initial investment. It is an unusual combination of a basic deposit account and investment in the European Dow Jones. The effort is part of Zivnostenska banka's (ZB) long-term thrust into the wider retail segment. With corporate clients watching their wallets, banks have been falling over each other to come out with creative offers for this sought-after group. Traditionally strong in private and corporate banking, ZB is aiming its product at the middle classes. "We're trying to attract clients to use Zivnostenska banka as a house bank," product development manager George Briford said. "This is a product no one on the market has." But new is in the eye of the beholder, say competitors who view the ZB campaign as nothing more than a dressed-up version of the guaranteed investments other banks are offering.