Rates on savings products will be fixed at peak values
VTB analysts expect that in 2025 loans will still be expensive, and deposits will remain an attractive instrument.
After the decision of the Central Bank of the Russian Federation to keep the key rate at 21%, rates on savings products will be fixed at peak values. This was stated by Deputy President and Chairman of the Board of VTB Georgy Gorshkov.
The bank expects that these values will become a peak for the market and will not change significantly over the next year.
In total, by the end of 2024, the retail savings market in Russia will grow by a record 26% and reach 56.4 trillion rubles. Next year, the growth rate will slow down; it will be based on interest payments on deposits in 2024. However, market growth will exceed 21%, the portfolio of household funds could reach 68.4 trillion rubles.
The cost of retail loans after maintaining the key rate…
