VTB: The savings market has grown by 7% since the beginning of the year.

      October 14, 2025 14:10 Economy

      The volume of the retail savings market in Russia grew by about 7% over the first nine months of 2025, reaching 61.5 trillion rubles as of the end of September. The share of the national currency in the market structure remains stably high — around 95%, or 58.3 trillion rubles.

      According to VTB estimates, after a slight slowdown in August, monthly growth accelerated in September to about 0.6%. The main contribution to the growth came from ruble term deposits, which saw inflows of roughly 1.0%. At the same time, ruble demand deposits, in our assessment, showed near-zero change. This is associated with a seasonal increase in household spending and falling rates on savings products.

      “Despite the cut in the key rate, banks continue to offer attractive terms on medium-term deposits, which sustains customers’ interest in savings products. We expect that by year-end the volume of the liabilities market will reach 66.2 trillion, of which 62.8 trillion will be in rubles. On an annual basis this represents growth of 15% and 17%, respectively,” commented Senior Vice President, Head of the Retail Products Department at VTB, Alexey Okhorzin.

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