OREANDA-NEWS. August 20, 2014. Sviaz-Bank (Vnesheconombank Group) had accepted over 28 billion rubles in time deposits, an increase of more than 5 billion rubles in time deposit accounts since year beginning.

The total balances in personal accounts with the Bank reached 33.5 billion rubles, or a 20% increase since January 1, 2014. Over 2.7 billion rubles, or a half of the growth in the Bank’s deposit portfolio, were deposits in the Select Collection line of deposit products for affluent customers.

The share of deposits in Russian rubles runs up to 71% of the total amount of deposits, the share of deposits in U.S. dollars amounting to 21%, and that in euros trailing behind at 7%.

“Sviaz-Bank’s portfolio of time deposits has so far registered a positive growth for every month of 2014, even though many banks, including some market leaders, have been hit by a run on deposits,” said Olga Oleinik, Vice Chair of Sviaz-Bank’s Management Board. “This is further proof that depositors, affluent customers among them, are willing to invest their monies on the best possible terms with reliable lending institutions as a sign of trust they put in them, and we are trying to live up to their trust. Anyway, deposits are still the simplest and most accessible instrument to save money and multiply the savings.”