Volume of consumer loans to exceed volume of deposits by 500bn RUR before end of year

July 24, 2014. By the end of 2014, Russian citizens will have borrowed from Russian banks an amount that will be 500m RUR greater than the amount of money they will have placed on deposits: this was an estimate given to reporters by President and Chairman of the Board VTB 24 Mikhail Zadornov at a press conference, Prime reports.

According to Zadornov, the balance of transactions between Russian banks and Russian population was positive in 2009-2013.

Last year, for example, the net amount of money citizens deposited stood at 468bn RUR, while in the first half of 2014, the balance was negative. In the first six months of 2014, Russian citizens borrowed 590bn RUR more from banks than they deposited with.

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