MOSCOW, August 29 The volume of household deposits in Russian banks increased by 9% over the seven months and approached 40 trillion rubles, which is a phenomenal result, at the end of the year this market can grow by 18.7%, said in an interview with the head of the Savings Department of VTB Natalia Tuchkova.
“According to the results of seven months, the market of attracted funds in Russia increased by 9% and approached the landmark mark of 40 trillion rubles. This is a phenomenal growth — at the beginning of summer we expected to reach this milestone only by the end of the year,” she answered a question about growth of funds of the population in the market as a whole.
“Of course, the August decision of the regulator will have a direct impact on the growth in the volume of attraction of funds from individuals – we are already seeing this. According to our estimates, by the end of the year, the market may increase by 18.7%, which will be a significant result over the past few years,” Tuchkova added.
At the same time, according to her, VTB expects a further decrease in the volume of deposits in unfriendly currencies. In the new economic conditions, customers prefer to convert their existing dollars and euros into rubles or soft currencies — primarily the yuan.
“According to our estimates, this year the portfolio of yuan savings of individuals in Russian banks will double and reach 88 billion. exceed 45%. By the end of 2025, the amount of savings in yuan has every chance to double — up to 150 billion units of Chinese currency,» Tuchkova said.