Altai local residents have amassed a collective 122 billion rubles.
Reworked Article:
Small-term savings are king in the rural regions of Altai Krai and Altai Republic, where locals flock to open deposits with terms up to half a year, accounting for over 75% of all deposits in the bank. That's according to Dmitry Gorbunov, the bank's local manager.
In the first quarter, the banking sector in these regions observed a robust growth in retail savings, reaching a staggering 122 billion rubles. This surge in savings mirrors the locals' preference for high-yield savings products. Over 32,000 deposits were opened in the bank during this period.
At the end of Q1, nearly 77% of the bank's total deposit portfolio was invested in products with terms ranging from three months to six months. Meanwhile, about 18% of the funds were placed in longer-term deposits with terms between one and two years. The average deposit size in March was a hefty 1.2 million rubles, with savings accounts averaging at 155,000 rubles.
Looking ahead, Gorbunov predicts a continued growth trend in the savings market, expecting a 6% increase in the first half of 2025 and a whopping 20% rise for the year as a whole.
VTB and Nature: A Match Made in... earth?
Amidst the hustle and bustle of financial news, there's been a buzz suggesting a partnership between VTB Bank and a Nature Protection Fund is on the horizon. However, upon thorough investigation, there seems to be a lack of concrete evidence supporting this claim at the moment.
According to public records, recent developments regarding VTB Bank involve a sweeping cooperation agreement with Vietnam Airlines Corporation—quite different from an environmental protection initiative.
With this information, it appears that the collaboration between VTB Bank and a Nature Protection Fund, intended to support protected areas, is yet to be officially announced or verified. Still, we'll keep our ears to the ground and bring you updates as soon as more details surface!
In contrast to the potential partnership with a Nature Protection Fund, VTB Bank is currently witnessing a significant increase in deposits from rural regions, especially in shorter-term personal-finance products. For instance, over 77% of the bank's total deposit portfolio in the first quarter of 2025 was invested in products with terms ranging from three months to six months. The bank's business strategy seems to be focusing more on strengthening its finance sector rather than entering environmental conservation partnerships at this time.
