Residents of Crimea keep more than 200 billion rubles on deposits and current accounts

As of April 1, 2024, raised funds from residents of Crimea (excluding escrow funds) amounted to 207.4 billion rubles. The growth of deposits and lending in the region exceeded the national level.

Crimeans’ interest in deposits has increased noticeably, which is largely due to attractive interest rates. The annual growth rate of funds of residents of the region became the highest in the last three years and at the beginning of April amounted to almost 44%. This is higher than in the Southern Federal District and Russia as a whole. Citizens’ savings account for about 60% of all funds raised by banks in the republic– the press service of the head of the Bank of Russia Branch for the Republic of Crimea quotes Igor Tsvetkov.

The retail portfolio of Crimeans as of April 1, 2024 amounted to almost 141 billion rubles. Over the year it has grown by more than a third. The growth rate of lending to individuals in the region exceeded the all-Russian level (+23.2%) and the figure for the Southern Federal District (+30%). The portfolio of consumer loans as of the same date grew by more than 21% in annual terms, to 67.3 billion rubles.

Mortgage obligations of Crimean residents increased almost 1.5 times over the year and at the beginning of the second quarter of 2024 amounted to 73.6 billion rubles. This is mainly due to the high demand for preferential programs with state support.