VTB reported an increase in Russians' savings by the end of 2025

According to VTB forecasts, based on statistics from the first half of the year, Russians' savings in Russian banks will increase by 6.1%, to 61 trillion rubles, and by the end of the year their amount will approach 70 trillion, showing a cumulative increase of 20% over the year. This was announced on June 19 by Dmitry Breitenbicher, a member of the VTB Management Board, during the XXVIII St. Petersburg International Economic Forum (SPIEF).

He stressed that high deposit rates remain the main incentive to save money. Thus, according to VTB forecasts, by the middle of the year the volume of ruble-denominated liabilities on the market will exceed 57.2 trillion rubles, and by the end of the year it will reach 65 trillion. VTB's retail savings portfolio will grow to 11.1 trillion rubles in six months, of which 10.5 trillion is in rubles.

"The rate reduction is proceeding smoothly, deposits remain an understandable and profitable tool for millions of Russians who receive a stable income from them — one of the highest in the world," Breitenbicher commented.

He noted that the record growth of the market was recorded last year — by 30% at once. In 2025, the situation will stabilize, which will be a positive signal for the economy, as annual growth by a third is a sign of "overheating". According to him, at the moment there is an optimal ratio: depositors receive income above the inflation rate, banks strengthen their resource base, and the economy avoids sharp fluctuations.

Breitenbicher also said that in the first half of 2025, depositors will earn about 4 trillion rubles on interest income on savings products, which will be 1.5 times more than in the same period last year. It is expected that for the whole of 2025, the interest income of the population on deposits and savings accounts will amount to about 9 trillion rubles.

"According to our calculations, the interest received on deposits today covers up to 10% of the projected annual expenses of Russians. If earlier deposits were an investment for a rainy day, now they are more likely an investment in the future. Right now, customers are trying to make the most of every available ruble. It's not for nothing that they say that wealth is in management. We see that every fourth VTB depositor uses two products at the same time — both a deposit and a savings account," said a member of the management Board.

He noted that VTB records a steady increase in the savings activity of its clients. So, in the first quarter, the number of bank savers increased by 670 thousand people, in the second — by another 245 thousand. According to the results of the first half of the year, the increase was 10%. Breitenbicher stressed that the maximum deposit rate for individuals in the bank is 19.5% per annum, and participants in the long-term savings program can open a deposit at a rate of 24%.

Percentage ratios: the yield on short deposits dropped below 19%

Why are banks in no hurry to lower loan rates?

Financial analyst and economist Mikhail Belyaev said on June 16 that free money should always be invested in financial instruments, including deposits in banks, which guarantee income and security of investments, since the money on them is insured. According to him, deposits have a positive impact on the economy.