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Ruble bank savings of Kuban residents increased by 9% over the year :: News

Savings of Kuban residents in bank accounts increased by 2.6% over the year and at the beginning of July 2022 amounted to more than 910 billion rubles. The share of funds in the Russian currency increased by 5.6 p.p. compared to the middle of last year, their volume increased by 9.2%, to 841 billion rubles. This was reported by the press service of the Southern GU of the Bank of Russia.

“Such dynamics is mainly due to the high profitability of deposits in March-April against the backdrop of an increase in the key rate at the end of February,” said Alexander Gostev, Deputy Head of the Southern Main Directorate of the Bank of Russia. “In May-June, bank rates gradually went down, but many residents of the region left money in their accounts, re-executed contracts under new conditions even after the expiration of short-term deposits opened at the peak of profitability in March.”

As for the funds on escrow accounts, they showed a noticeable growth: they added 33.4% over the year, reaching almost 75 billion rubles. Since the second half of last year, the region has seen a massive commissioning of both multi-apartment and private houses. It stimulated the purchase of housing, including the operation of preferential programs with state support. In January-June of the current year, the Krasnodar Territory ranked third in the country in terms of the volume and number of preferential mortgages, and fourth in family mortgages. In general, the mortgage portfolio of Kuban residents as of July 1, 2022 exceeded 403 billion rubles, over the year it increased by more than a quarter.

Consumer lending also increased, adding 10.8% year-on-year to RUB 506.7 billion.

Retail loan portfolio in SFD on one July of this year amounted to almost 2.2 trillion rubles, having increased in in annual terms by 14.3% (average Russian growth rate 12.3%. The portfolio in the mortgage segment amounted to 967 billion rubles, in consumer lending – a little over 1.2 trillion rubles.

The balance of attracted funds of individuals (without escrow accounts) in the Southern Federal District exceeded 2.1 trillion rubles, inflow for year 6.3% (in the whole country 1.4%).

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