Demand for ruble deposits in November exceeded the records of spring 2022 – Kommersant
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VTB ruble deposit portfolio (MOEX: VTBR) in November grew by more than 360 billion rubles, to more than 4 trillion rubles. This figure exceeded the growth rate of VTB’s ruble deposit portfolio in March and April 2022, said Georgy Gorshkov, Deputy President and Chairman of the Board of VTB.
In January-October, VTB’s portfolio of ruble deposits grew by an average of 85 billion rubles. per month (maximum – 207 billion rubles in October). November 360 billion rubles. more than 65% ahead of the result for March and 1.5 times ahead of the result for April 2022.
In November, RNKB (part of the VTB Group)’s deposit portfolio increased by 4.4 billion rubles. This is 46% higher compared to October. The total volume of the deposit portfolio in RNCB exceeds RUB 94.7 billion.
“Russians are demonstrating rational behavior, reducing lending activity and switching to a savings model of behavior… We expect that in December, against the backdrop of year-end payments, as well as the launch of traditional seasonal promotions, the activity of depositors will continue to grow at a faster pace, as a result of which the portfolio of attracted funds in general, the market will exceed 43 trillion rubles,” says Mr. Gorshkov.
Last month, the Russian banking market saw a new round of increases in interest rates on loans and deposits after the key rate was raised to 15%. The largest in terms of market share, Sberbank and VTB, increased rates by 2–2.5 percentage points. VTB promises to charge a maximum of 15% per annum for a three-year period when opening a deposit online or through an ATM.
Details are in the Kommersant-Dengi material. “Autumn conscription rates”.
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