VTB predicts peak deposit rates of up to 25%
Deputy Chairman of the Management Board of VTB Georgy Gorshkov predicted that peak rates on deposits in Russian banks will be reached in the winter of 2024–2025.
After this, the profitability of savings products will begin to decline.
In Russian banks, peak rates on deposits will be fixed in the winter of 2024–2025, RBC reports, citing Gorshkov.
He linked the increase in rates with expectations for the dynamics of the Central Bank's key rate.
According to VTB's forecast, which may come true, the regulator is ready to raise the indicator in December from the current 21 to 23% per annum.
In response to the Central Bank’s decision, banks will improve deposit terms for retail clients.
Average rates on deposits may reach 21–22% per annum, and rates on deposits within the framework of promotions will be 24–25%.
Gorshkov noted that no significant changes in rates are expected in 2025.
