Ingushetia and Chechnya Residents Have Smallest Bank Deposits in Russia
Ingushetia, Chechnya, and Dagestan have become rating outsiders in terms of bank deposits, the RIA Rating state agency reported.
In Ingushetia, there are EUR 175 of bank savings per capita, in Chechnya – EUR 219, and in Dagestan – EUR 416. This is several tens of times less than the rating leader - Moscow. The ten worst regions in terms of deposits also included Karachay-Cherkessia (EUR 550), Kabardino-Balkaria (EUR 646), Kalmykia (EUR 742), and Adygea (EUR 913). It is reported that the largest percentage increase over the past year was in Chechnya - by 23.5%.
According to the study's authors, such low results in the southern regions can be explained by the low incomes of the population and the weak development of the banking services market.
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