VTB predicted a five-year record increase in the volume of ruble deposits of Russians

by time news

The volume of fixed-term deposits of Russians in rubles in 2022 will increase by a record 1.4 trillion rubles in five years, Maxim Stepochkin, head of the Savings department at VTB, predicted. The same figure was observed in 2017.

In 2018, the volume of fixed-term ruble deposits of Russians increased by 682.3 billion rubles, in 2019 – by more than 1 trillion rubles, follows from the data of the Central Bank. In 2020, against the background of the coronavirus pandemic, the amount, on the contrary, decreased by 1.7 trillion rubles. The results of 2021 are still unknown, however, as of December 1, citizens kept more than 16 trillion rubles on time deposits in domestic currency. after 16.4 trillion on January 1.

A sharp increase in the volume of time deposits of citizens will be facilitated by several factors, VTB notes. First of all, the increase by the Central Bank of the key rate, which is now at a record level since October 2017 of 8.5% per annum. Against this background, credit institutions began to increase rates on deposits and loans. According to the Central Bank, the average maximum interest rate on ruble deposits in 10 Russian banks that attract the largest volume of deposits from citizens of the country in the third decade of December 2021 reached a record 7.74% since the first decade of May 2017.

“If in 2020 Russians were actively withdrawing money from deposits to savings and card accounts in order to keep them “at hand”, then in the second half of last year the situation changed dramatically: the main influx of household savings was placed in ruble deposits. These trends in the savings market will only strengthen in 2022,” Stepochkin said.

According to the state bank, in general, the level of profitability of ruble deposits will remain at a “favorable” level. However, analysts doubted that in 2022 the Central Bank would continue to noticeably raise the key rate. If such a forecast comes true, it means that deposit rates will be at their maximum levels for several years for some time, after which they will decrease somewhat.

As Vedomosti wrote in mid-December, the yield on deposits in some banks has already exceeded 9%. According to Stepochkin, offers with double-digit rates may now appear, but they will be limited – for example, seasonal.

According to VTB, the average rate on ruble deposits in 2022 will be 8-8.5%. In addition to this indicator, the growth in the volume of such deposits will be facilitated by “continued devaluation of savings against the backdrop of a stable ruble”, cash flow to banks, “stabilization of employment”, growth in wages and pensions.

Earlier, experts from the international audit and consulting network Fineexpertiza considered that in 2021 a person who invested 100,000 rubles. in a ruble deposit, could receive an income of 4,500 rubles. Thus, this instrument has become the least profitable compared to others – with cryptocurrency, real estate and stocks.

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