23 Nov 2011 15:20

Sberbank expects doubling of savings in high-return segment by end-2012

MOSCOW. Nov 23 (Interfax) - Sberbank of Russia reckons that the volume of savings in the mass high-return segment will double to 3 trillion rubles by the end of next year, the bank's deputy chairman, Alexander Torbakhov, said at a briefing on Wednesday.

"The Russian savings market is more than ten trillion rubles, and this segment represents more than sixty percent. We want to reach three trillion rubles in this segment by the end of 2012," Trobakhov said.

At the present time, such deposits with Sberbank amount to 1.2 trillion rubles.