Sberbank: Russians have a shocking amount of money in accounts
Russians keep a shocking amount of money in bank accounts, said Mikhail Matovnikov, head of the financial analytics center of Sberbank.
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📝 Summary
Russians keep a shocking amount of money in bank accounts, said Mikhail Matovnikov, head of the financial analytics center of Sberbank.
According to the expert, only interest on these deposits will be enough to buy all the real estate under construction in Russia. I have a number that we recently calculated, which in some ways can be shocking. The entire volume of unsold housing under construction in Russia can be bought for interest income on deposits of the population for one year, Matovnikov said. The head of the center did not rule out that there should come a time when these savings will go to support the construction industry. The last few months have seen an increase in the number of real estate transactions that are bought for cash and without a loan. Earlier, the insurance company Rosgosstrakh Life published a study, according to which 71% of Russians set aside part of their income in savings accounts. Five years ago, there were only 41 percent. In addition, 59% of citizens save up to 10% of their earnings.
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