Russian Savings Reach 66.5 Trillion Rubles in 2025
The Russian savings market reached 66.5 trillion rubles (approximately $887 billion at current rates) in 2025, which is 9 trillion rubles (approx. $120 billion) or 16% higher than the previous year«s figure.
The main driver of growth was ruble savings, the volume of which increased by 18% to 63 trillion rubles (approx. $840 billion). At the same time, the portfolio of savings in foreign currency decreased by 12%.
A particularly strong increase was recorded in December 2025: over the month, the volume of savings increased by 7%, or by 4.3 trillion rubles (approx. $57 billion), which was facilitated by persistently high rates on savings products.
Senior Vice President of VTB Alexei Okhorzin called 2025 the «depositor»s era«. He noted that Russians are increasingly viewing savings as a deliberate strategy for financial stability.
«The market has finally reoriented from currency assets to ruble instruments,» emphasized Alexei Okhorzin. «According to our forecasts, the growth of the savings market will continue this year, albeit at more moderate but still double-digit rates.»
According to Okhorzin, current conditions allow depositors to receive profitable risk-free passive income, and 2026 will maintain an orientation towards a savings behavior model.
