The portfolio of funds raised for retail deposits and current accounts of Russian Agricultural Bank (RusAg, the Bank) as of 1 August 2021 has exceeded RUB 1.33 trillion. In terms of the size of the passive portfolio, RusAg is consistently among the TOP 5 Russian banks.
In H1 2021, despite the general market decline, RusAg’s deposit portfolio showed positive dynamics and amounted to RUB 1.1 trillion as of 1 August 2021. The growth of the portfolio since the beginning of 2021 amounted to RUB 23.7 billion.
Among the Bank’s branches, the leaders in attracting retail deposits, in absolute terms, included offices and subdivisions of Moscow and the Moscow region, Volgograd, St. Petersburg, Saratov, Kemerovo and Tula regional branches.
“The steady growth dynamics of the deposit portfolio is directly related to the availability of a wide range of deposit products for individuals, as well as the regular launch of seasonal offers with increased interest rates. In 2021, it was ‘Hot Interest’ campaign on the ‘Profitable’ deposit product, the rate for which is currently up to 7% per annum. As part of the campaign, the Bank opened more than 65 thousand deposit accounts, which made it possible to attract RUB 40.1 billion, – said Svetlana Vishnyakova, Head of the Retail Business Unit at RusAg. – In addition, the availability of specialized offers contributes to the growth of demand for the Bank’s savings products. In particular, the launch of ‘My Time’ deposit product aimed at senior citizens, with a rate of up to 7.5% per annum. This offer is one of the most profitable on the market.”
Note: Financial data is under RAS