One-third of deposits in Russian banks fell on the VIP depositors

The volume of large deposits, the amount of which exceeds 5 million rubles, for 2015 (DIA maintains statistics on large contributions from 1 April 2015) has increased by one — third from 5.5 trillion to 7.4 trillion rubles., said in response to the DIA request . The number of such deposits increased by only 17%, from 240 thousand to 280 thousand

Total deposits on January 1, 2016 amounted to 23 trillion rubles. Thus, 32% of all deposits in Russia accounts for VIP-investors. In General, over the 12 months from 1 April 2015, the population’s Bank deposits increased by 16.3%.

One factor in the growth of large deposits — increase in savings activity of the population as a whole, including VIP investors, says the Director for Bank ratings “Expert RA” Stanislav Volkov. The crisis has reduced the possibility of safe investment, with the result that affluent citizens prefer to save money and not invest it in risky investment projects, says Volkov.

The second significant factor is the currency revaluation, says the analyst of rating Agency ACRES Kirill Lukashuk. Major investors around 50-55% of savings stored in currency, and from April 2015 to January 2016, the ruble weakened against the U.S. dollar by 26.5%.

Its contribution to the growth of large deposits also contributed to the desire of customers to transfer assets of foreign banks in Russia, says Vice-President of SMP Bank Roman Tsivinyuk, in which the credit institution fixed deposits for the sum over 5 million rubles increased for 2015 by 42%.

Large investors continue to like banks with state-owned and large private banks. If on 1 April 2015, the five largest banks by asset size accounted for 52.8 per cent of large deposits, on January 1, 2016, this percentage had increased to 63.5%. According to Stanislav Volkov, cases like Vneshprombank, when large investors give money under the personal guarantees of the leadership and lost it, inflicted serious damage on the models of relationship banks with major investors and increased the flow of funds in the state banks. “The recent decision of the savings Bank to lower interest rates on foreign currency deposits to almost zero, partly due, in my opinion, with a large influx of former VIP depositors of private banks, which is characterized by a large share of currency in savings,” says Volkov.

“Indeed, major customers have become very cautious about the selection of banks and prefer to place funds in the banks with state participation, as well as in the banks, which participate in realization of state programs,” agrees Roman tsivinyuk of SMP Bank.