Chechnya and Ingushetia outpaced other regions in terms of growth in ruble deposits

As reported by RIA Novosti, referring to the Central Bank, these two constituent entities of the Russian Federation became leaders in terms of the annual growth rate among the population in banks at the end of February.

In addition, the Yamalo-Nenets and Nenets Autonomous Okrugs showed high growth in contributions. There the growth was 20.4% and 2-, 2%, respectively. Moscow also increased the volume of ruble deposits - by 13.8%.

At the same time, two regions showed a net outflow of citizens' funds from banks. These are Sevastopol - minus 1.4% and Kabardino-Balkaria - minus 1.1%.

The regulator noted that at the end of last year, the inflow of funds from individuals to bank deposits decreased by 9%, amounting to 29.3 trillion rubles. The volume of household deposits, on the contrary, increased by 8%, to 33 trillion rubles.

The rates on ruble deposits in Russian credit institutions for a term of one to three years dropped from 5.5% to 4.1% per annum. Experts believe that the tightening of the monetary policy of the Central Bank will lead to an increase in interest rates on deposits and loans in the future.

At the same time, the investment of Russians in foreign securities reached 1.3 trillion rubles, but a large share of shares and bonds owned by citizens still falls on domestic companies.

We will remind, in February 2021, Finance Minister Anton Siluanov noted that the volume of investments of Russians in the financial markets reached 10 trillion rubles, and the volume of bank deposits is 35 trillion rubles.