Bashkirova & Partners » Blog » Opinion Polls » Half Of Russians Think National Banks Credible

Half Of Russians Think National Banks Credible

«Keep your money in a saving bank» - this is what a character of a popular Soviet feature film used to suggest. Do the Russian citizens follow the advice today? 

Bashkirova and partners Independent Research Company has undertaken a survey to find out if Russians are presently willing to trust their savings to banks under the conditions of the economic instability.

 

Is keeping money in a Russian bank safe under the conditions of the economical crisis? The answer to this question has divided Russians into the two almost equal groups.  49% of respondents have given a positive answer. A little bit smaller percentage of participants (47%) did not agree.

 

The young (people of between 18 and 39 of age) are showing the highest level of confidence in Russian banks.  Moreover by closer look at the category we will find even greater optimism in respondents of between 30 and 39 of age. The least trust in banks is expressed by retired people which is evidently conditioned by the very negative impact of the developments in the past 90-s, i.e. losing savings, the people had accumulated before 1992 and the financial crisis of 1998.

 

 

60% of Russians with high income level have confidence in the homeland banks. The level of confidence is decreasing as household income level goes down. For the decreasing ones we can point out the two groups: households with income level under 20 000 rubles – less than a half of these have confidence in Russian banks. The second group is made of households with higher income and 55-60% of interviewed in this group show their trust accordingly. It’s worth noting that according to the data provided by the Deposit Insurance Agency, only a half of Russians – a wealthier part of the Russian population - has an account in a bank. And in sober fact it is exactly this group, whose confidence is of significance for stability of the Russian banking sector.

 

The study was conducted in May 2014 based on all-Russia random route sample (18+) using face-to-face interviews in place of residence. Altogether 1000 respondents in 8 federal districts, 100 settlements, 200 sample points have been surveyed. The sample error makes up 3,1%.





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