DEPOSIT ANALYSIS IN RUSSIA

ABSTRACT

The article deals with changes in deposit accounts of Russian households. There has been discovered some interesting trends in growth rates of deposits within different types of dates. Next, recommendations have been reported at the end of the article, which suggest some solutions to deal with existing problems.

АННОТАЦИЯ

В статье рассматриваются изменения депозитных счетов российских домашних хозяйств. Были обнаружены некоторые интересные тенденции в темпах роста депозитов в разные периоды дат. Затем в конце статьи были представлены рекомендации, в которых предлагаются некоторые пути решения для существующих проблем.

Keywords: Deposits, accounts, households.

Ключевые слова: депозиты, счета, домашние хозяйства.

Growth of deposits in Russia has been observed in 2014. The total amount of deposits attracted by credit institutions as of January 1, 2014 amounted to 16957,5 billion rubles, including in rubles - 14 000, 5 billion rubles and foreign currency - 2956, 9 billion rubles.

Table 6.

Data on amounts of the deposits of physical persons attracted with the credit organizations (million rubles)

The largest share in total deposits by January 1, 2014 among short-term deposits account for individual deposits "on-demand" (20.53% of the total).

Figure 6. The amount  of the on-demand deposits of physical person attracted with the credit organizations in rubles (million rubles)

The amount of the attracted bank  on-demand deposits of natural persons  in 2008 grew to 269402 million rubles (46,14%), in comparison with the level of 2007, in 2009 the studied indicator decreased a little, in 2010 grew by 217 957 million rubles (26%) in relation to the previous period. This tendency remained in 2011 and growth of this financial indicator made 483 932 million rubles (45,82%) in comparison with the level of 2010. In 2012 growth of volume of the deposits attracted with the credit organizations made 33,3%, in the actual expression of 508 738 million rubles, for 2013 the volume of deposits increased for 399 229 million rubles (19,49%) in comparison with previous year, and following the results of 2013 the analyzed indicator increased by 425 471 million rubles and for the beginning of 2014 was estimated at 2 873 465 million rubles (Figure 6).

Figure 7. Average annual interest rates for the on-demand deposits  of physical person attracted with the credit organizations in rubles (% per annum)

The average annual interest rate for the attracted bank on-demand deposits  of physical person in rubles  grew in 2013 in comparison with the previous period by 0,4 percentage points, to the level of 1,7% per annum. The studied indicator in 2014 grew to 1,98 percentage points.

Figure 8. Amount of the on-demand deposits  of physical persons attracted with the credit organizations in US dollars (one million rubles)

The amount of the attracted household on-demand deposits in US dollars for January 1, 2008 made 102748 million rubles, for 2009 the analyzed indicator increased by 60845 million rubles, or for 59,22% in comparison with previous year, for 2010 – for 6 171 million rubles, or by 3,77 percent points in comparison with the level of 2009. In 2011 the amount of deposits increased for 15 755 million rubles, or on 9,28 percent points in comparison with 2010, in 2012 – there was an increase by 33 733 million rubles, or by 18,18% in comparison with a previous period. The amount of deposits in 2013 and 2014 grew by 27 169 million rubles and for 49 297 million rubles respectively, or for 12,39 and 20,01%. Thus tendency of house farms to a saving in deposits in 2014 was higher in comparison with 2013 (Figure 8). In a certain degree it is connected with an interest rate development on bank deposits of physical persons (Figure 9).

Financial and economic motives of the Russian households placing financial assets in the deposit market are practically absent as households don't expect to lower in this way a risk degree of their loss, not to mention enhancement of made money. Thus, the level of trust of the population to the bank sphere is extremely low at this conjuncture. It is characterized, first of all, by fixed increase in bankrupt banks (the credit organizations, with the withdrawn (cancelled) licenses for banking operations) that has an adverse effect on the level of trust of house farms to the credit organizations (Table 8).

Table 8 .

Quantity characteristic of the credit organizations of Russia (units)

On the basis of the data provided in table 8 it is possible to draw a conclusion that the number of the registered credit organizations by Bank of Russia for 2013 decreased on 18 units, or 1,62% in comparison with a preceding period. This tendency proceeded and in 2014, the number of the credit organizations was reduced by 23 units, or 2,10%. For March 1, 2014 there were only 900 credit organizations having the right to perform banking activities.

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