Sverdlovsk Region: Private Customers’ Bank Deposits Up 6.4%

UrBC, Yekaterinburg, May 11, 2018. Sverdlovsk Region’s residents deposited RUR 661.9bn with the banks as of April 1, 2018, which exceeded the figures for one year earlier by 6.4%, the Bank of Russia’s Ural division reports.

The overall amount of ruble deposits rose by 8.7%, whereas that of foreign currency ones declined by 8.1%. As of April 1, 2018, the average interest rate came to 5.7% a year for ruble deposits and to 1.4% for U.S. dollar deposits.

‘Inflation rate kept going gradually down throughout the year 2017. The Bank of Russia’s monetary policy has been making a positive impact on ruble savings growth and creating better opportunities for getting reliable and predictable ROI in national currency deposits. As a result, Russians are growing increasingly more interested in ruble deposits,’ says Head of the Bank of Russia’s Ural division Evgeny Baryshnikov.

Private customers’ deposits amount to 65.7% of all the customer funds managed by the banks.

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