Main /

Analysis of the Market of Households’ Deposits in H1 2017

Date: 15.08.2017

The State Corporation Deposit Insurance Agency (DIA) has analysed the development of the market of households’ deposits in H1 2017. Here are the most significant trends.

Individuals’ Savings Activity

In H1 2017 the amount of households’ deposits in banks increased by 696.8 billion rubles (by 2.9%) to 24,897.1 billion rubles (in H1 2016 deposits fell by 156.6 billion rubles or by 0.7%). Without factoring in currency revaluation, deposits grew in H1 2017 by 3.5%.

The amount of bearer savings certificates in the reporting period decreased by 25.3 billion rubles (by 5.2%) to 460.0 billion rubles.

As of 1 July 2017 deposits opened in the name of individual entrepreneurs amounted to 377.8 billion rubles (1.5% of the total amount of households’ deposits), having increased by 40.3 billion rubles (by 12.0%) in the reporting period.

In H1 2017 the total amount of insured deposits in banks was up by 754.0 billion rubles (by 3.1%) to 24,774.6 billion rubles.

Deposit Distribution by the Size

In H1 2017 deposits amounting from 1 million to 1.4 million rubles were the fastest-growing ones, having increased by 9.8% in terms of the amount and by 10.0% in terms of the number of accounts. Deposits amounting to over 1.4 million rubles were up by 4.4% in terms of the amount and by 10.3% in terms of the number of accounts. Deposits amounting from 100 thousand to 700 thousand rubles and from 700 thousand to 1 million rubles grew by 2.3% and 2.1%, respectively, in terms of the amount and by 2.6% in terms of the number of accounts. Deposits amounting to less than 100 thousand rubles decreased by 5.6% in terms of the amount and increased by 0.9% in terms of the number of accounts.

As a result, as of the end of H1 the share of deposits amounting to more than 1.4 million rubles increased from 41.6% to 42.1%, and the share of deposits amounting from 1 million to 1.4 million was up from 10.6% to 11.3%. The share of deposits amounting from 100 thousand to 700 thousand rubles and the share of deposits amounting from 700 thousand to 1 million rubles showed a minor decrease from 29.5% to 29.2% and from 8.9% to 8.8%. The share of deposits amounting to less than 100 thousand rubles fell from 9.4% to 8.6%.

As of 1 July 2017 the average deposit size in the banking system (not including accounts in an amount of less than 1 thousand rubles) was 166.5 thousand rubles, having increased by 5.0% since the beginning of the year.

Deposit Profitability

The results of monitoring of interest rates on deposits in 100 major retail banks evidence a continuing decrease in deposit profitability. According to the results of H1 2017, the greater part of banks (81 out of 100) cut their rates. In 11 banks rates increased and in 8 they remained unchanged.

In the reporting period the average level of (deposit-amount-weighted) rates on one-year ruble deposits amounting to 1 million rubles fell by 0.9 p. p. to 6.5% per annum. Average (unweighted) interest rates on such deposits decreased by 0.9 p.p. to 7.6%.

As a consequence of a decline in inflation, deposit profitability (in relation to inflation) remains positive. According to the Agency’s estimates, in the near future a small decrease in interest rates on deposits might persist.

Deposit Distribution by the Currency and Term

In H1 2017 the share of foreign-currency deposits decreased by 1.2 p. p. from 23.7% as of 1 January 2017 to 22.5% as of 1 July 2017.

The share of long-term deposits to mature in more than 1 year decreased from 46.5% to 45.2%. The share of deposits with a term of less than 1 year increased insignificantly, from 35.2% to 35.7%. The share of call deposits was up from 18.3% to 19.1%.

Deposit Concentration

The share of 30 banks that, in terms of the amount of households’ deposits, are the largest ones continued to increase in H1 2017  (growth by 1.0 p. p.), amounting to 86.2% (this trend has been observed since the end of 2013). The Sberbank’s share decreased by 0.7 p.p. in the reporting period, having amounted to 45.8%.

DIA’s Insurance Liability

In H1 2017 the amount of the DIA’s insurance liability (potential liabilities to pay insurance indemnities) was up by 0.2 p.p. to 68.0% of all insured deposits. Without factoring in the Sberbank, the amount of the DIA’s insurance liability increased by 0.4 p.p. to 62.2%.

 

Back to the list

www.iadi.org
www.efdi.eu