VTB Account Balances Exceeding 80 Billion Russian Rubles Held by Homeowners
VTB Bank in the Omsk region reported that investment products accounted for 10.6 billion rubles of its total volume, as announced by Alexei Suzdalnitsky, the head of VTB in the region, during a press conference.
Besides classical deposits, clients in the region have shown a rising interest in savings accounts, which offer flexible management of funds. The funds in these accounts increased by 16% from January to March. A total of 332,000 deposits and savings accounts were opened with VTB during the same period.
Two-thirds of VTB's deposit portfolio, making up 74%, consist of medium-term products ranging from three to six months, with 20% of funds placed for one to two years. The average deposit size in the first quarter was 917,000 rubles, and the average savings account size was 190,000 rubles, Suzdalnitsky revealed.
Suzdalnitsky suggested that residents in the region are building up their savings due to the current financial climate, as it is more profitable to save rather than spend. He added that there is no sign of a decrease in demand for savings tools, with the interest rates on deposits remaining high.
VTB experts predict that double-digit deposit rates are likely to persist until 2026-2027. By the end of the first half of the year, the funds attracted from individuals may grow by 6%, with an expected annual increase of 20%.
While specific projections for deposit rates at VTB Bank until 2026-2027 could not be found, it is crucial to keep an eye on official announcements or financial news platforms for the most accurate and up-to-date information. Central banks and financial regulatory bodies often provide insights into future monetary policies that could impact deposit rates.
"What about exploring personal-finance opportunities in the business sector, considering the rising interest in savings accounts and the predicted double-digit deposit rates at VTB Bank until 2026-2027?"
"Given the focus on building savings and the high interest rates on deposits, it might be beneficial to consider investment products in the realm of finance, especially as VTB's total volume includes 10.6 billion rubles from investment products."
