Increase in savings for small and medium-sized businesses in Omsk region by 11%, according to VTB.
In the current economic climate of high key interest rates, businesses in the Omsk region have taken a more cautious approach to finance, preferring savings over loans. This sentiment was echoed by Alexei Suzdalnitsky, the manager of VTB in the Omsk region, during a recent press conference.
VTB plays a significant role in the regional economy, with a client base of over 10,000 enterprises. The bank's credit portfolio stands at 30.25 billion rubles, with key sectors including trade, food, agriculture, services, and residential and commercial construction. VTB also offers bank guarantees, which are popular among local entrepreneurs, as they allow them to execute contracts without depleting their own funds.
In addition to loans for ongoing operations and bank guarantees, Omsk businesses have utilized preferential loans within state programs. As of April 1, 2025, the total volume of such loans surpassed 15.2 billion rubles. VTB has provided 6.9 billion rubles in support of agricultural enterprises, 3.5 billion rubles to entrepreneurs, 1.8 billion under the Combined Program for Subsidized Lending to SMEs, and 1.6 billion for financing builders.
Alexei Suzdalnitsky noted that the activity of businesses in lending has somewhat decreased, with some businesses adjusting their growth plans. In the current economic situation, many businesses are choosing to place temporarily free funds in deposits, earning additional income. Since the beginning of the year, the passive portfolio of small and medium-sized businesses has shown strong growth, increasing by more than 10%.
This development may be influenced by a combination of factors, including high interest rates, economic uncertainty, and potential industry-specific challenges. The prevalence of refinery maintenance in Russia's overall economic landscape, a significant factor in the Omsk region, could contribute to a sense of uncertainty among local businesses. This uncertainty might lead businesses to prioritize saving and maintaining cash reserves during periods of high interest rates.
However, without specific data on the Omsk region's economic conditions and business strategies, it is challenging to provide a precise reason for the preference for savings in this region. Nonetheless, these factors could collectively contribute to a general trend of saving during times of economic uncertainty.
What is the impact of high interest rates and economic uncertainty on the preference for savings among businesses in the Omsk region, as opposed to seeking finance for business expansion or personal-finance needs? The increasing trend of placing free funds in deposits by small and medium-sized businesses in the region might be a result of the economic factors at play, such as the high interest rates, potential industry-specific challenges, and the prevalence of refinery maintenance in Russia's overall economic landscape.
