VTB: Russians maintained the trend of saving in July

      12 August 2025 11:48

      [143]

      Economy

      According to VTB's estimates, in July the portfolio of retail deposits in Russian banks grew by 793 billion rubles. The trend toward savings continues despite falling interest rates. Since the beginning of the year Russians have increased the volume of their savings by 6% — it now exceeds 61 trillion rubles.

      The main driver of growth in the savings market is deposits in the national currency, which account for almost 90% of the total increase in the market in rubles. Of the nearly 800 billion rubles of market growth in July, more than 600 billion came from ruble-denominated funds. Savings in the national currency have risen by 7.5% since the beginning of the year.

      At VTB the volume of retail deposits since the beginning of the year reached 11.2 trillion rubles, of which more than 10.6 trillion were ruble-denominated investments.

      "The savings market continues to grow: albeit at a moderate but steady pace. With the start of the monetary policy easing cycle we are seeing a trend form toward investment strategies capable of providing higher returns in the long term. Nevertheless, deposits remain a clear, accessible and profitable tool for accumulating funds. Both retail depositors and investors continue to keep their funds in the bank and are in no hurry to give up passive income, which still outpaces inflation," said Senior Vice President, Head of VTB's Retail Business Products Department Alexey Okhorzin.

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