VTB reported growth in its retail liabilities portfolio

Since the beginning of the year, VTB's retail liabilities portfolio has grown almost 1.5 times and exceeded RUB 10 trillion, of which RUB 9.4 trillion in local currency. By the end of the year, the bank plans to increase the total portfolio by another Br300 billion. This was reported by the press service of VTB.

The bank noted a change in the structure of savings of Russians. The share of cash rubles in savings and current accounts are progressively decreasing against the background of growth in the number of deposits and savings accounts. As indicated in VTB, the reason for this is super-high rates on banking products.

"The volume of attracted VTB funds increased by more than 3 trillion rubles over the year, we grew twice as fast as the market. Next year, the trend of extra-high rates will continue, and competition between banks will intensify. We plan to maintain our status of market leader by increasing the volume of retail customer liabilities to RUB 13.3 trillion by the end of next year. We expect that many customers will want to place their funds now, at the peak of interest rates, in order to increase savings by almost a quarter for the year", - commented Senior Vice President of VTB Dmitry Breitenbicher.

The largest part of the savings structure of Russians is occupied by deposits, high interest rates on which increasingly stimulate depositors to place funds on deposits. By the end of 2024, the retail savings market in Russia will grow by a record 26% and reach 56.4 trillion rubles. Next year, the market growth will exceed 20%, and the portfolio of funds of the population - 68 trillion rubles, VTB noted.