DIA raised its forecast for household deposits

The return of part of the deposits of Russian citizens from Cyprus and the legislative ban on officials having foreign accounts have significantly affected the entire Russian deposit market, the Deposit Insurance Agency (DIA) stated. The average maximum deposit rate has fallen to its lowest level in a year and a half, but the volume of deposits will exceed forecasts made at the beginning of the year.

The growth of the deposit market in 2013 may be 20–22%, according to a review of the deposit market for individuals in the first half of the year prepared by the DIA. According to the agency's forecast, in 2013 depositors will bring 2.85–3.15 trillion rubles to banks. more, as a result, the volume of deposits in banks will grow to 17.1–17.4 trillion rubles. At the beginning of the year, the DIA gave more modest forecasts: according to agency specialists, the volume of deposits was expected to increase by 2.4–2.7 trillion rubles, to 16.7–16.9 trillion rubles, which corresponds to a relative increase in deposits of 17 -19%.

As indicated in the report, in the first half of the year, deposits in the range from 700 thousand to 1 million rubles grew at the fastest rates. and over 1 million rubles - by 18.5% and 16.4% in terms of the volume of deposits and by 18.2% and 14.3% in terms of the number of open accounts, respectively. Deposits from 400 thousand to 700 thousand rubles. increased by 8.8% in volume and by 8.1% in the number of open accounts. Small deposits grew more slowly. So, deposits up to 100 thousand rubles. decreased by 3.3% in volume (in terms of the number of accounts they increased by 3.1%), and deposits from 100 thousand to 400 thousand rubles. increased by 3% in volume and by 3.2% in the number of accounts. Thus, market growth this year has shifted in favor of larger deposits exceeding the amount of insurance compensation.

As a result, according to the Central Bank data for the first ten days of August, the average maximum rate on deposits of ten Russian banks that attract the largest volume of retail deposits in rubles, during the first ten days of August decreased to 9.05% per annum. While at the beginning of the year the average maximum deposit rate was 9.65% per annum.

According to the DIA, the growth in the volume of deposits was influenced by the return of part of the funds of Russian citizens from Cyprus, as well as legal requirements for the transfer of accounts of government employees to Russian banks. In addition, the positive dynamics of the growth of household funds was also influenced by the increase in their real income and the effect of capitalization of high interest rates from previous periods.

Alexandra Bayazitova

Money returned from vacation