According to the state’s statistics, the volume of bank deposits opened by private individuals keeps growing. SKB-Bank’s Deposit Management Director Denis Belogurov says this is only logical because the general income and welfare growth is bound to result in greater deposit volume. ‘This is true of SKB-Bank as well, as the volume of natural persons’ deposits has increased by more than one-third since the beginning of the year,’ he says.


‘Besides, the deposit insurance system has played a great part in making them more popular as well. The fact that the system is actually working, as well as the increase in the insured sum from 190,000 RUR to 400,000 RUR in 2007 have contributed as well,’ Mr. Belogurov adds.


‘Private individuals tend to invest most at the end of the year. Firstly, people usually get some extra money such as end-of-the-year bonuses and so on, and secondly, banks normally come up with increased interest rate offers,’ he notes.