The most popular banks among Russians in 2020

Long gone are the days when competition between Russian banks was low and the range of services was very limited. For modern Russian users who bring their hard earned money to a financial organization, give us a convenient mobile application, a good percentage of the deposit, and many other interesting and useful opportunities.

And Deloitte experts found out that the most demanded banks in Russia are Sberbank, VTB and Tinkoff... And they made a list of the financial preferences of Russians when choosing banks in 2020. The survey involved 5038 people of different ages from more than 200 cities in Russia.

The most attractive banks in Russia in 2020

Although Sberbank, VTB and Tinkoff have made it to the top three in terms of popularity, each of them has its own reasons.

1. Sberbank is a mastodon in the Russian banking sector, and the first in Russia in terms of the number of clients (96 million active retail clients in 2019). It has a long history, is headed by reliability rating of 2020 according to the Central Bank, and, importantly, Sberbank branches and ATMs are present in almost any settlement of the country.
2. VTB cannot boast of the same number of clients as Sberbank, but it is actively introducing digitalization and improving customer service.
3. And if you need a lot of additional services and services, such as the possibility of monthly selection of categories with increased cashback, insurance and easy opening of a brokerage account, then Tinkoff Bank will be an excellent choice.

What factors influence choosing the best bank in 2020

1. In the first place among potential clients of a credit and financial organization are the conditions that the bank can offer. And it's not only about a high percentage of the deposit, but also about meeting everyday needs (for example, the presence of cashback and partner programs). This was reported to Deloitte by 61% of respondents.
2. 56% of respondents are ready to entrust their savings only to a reliable bank, and people over 45 consider the reliability factor more important than favorable conditions. It is curious that Sber is no longer a monopolist in terms of reliability, having shared the first place with the largest private bank in Russia - AO Alfa-Bank. They are trusted by 59% of people surveyed by Deloitte.
3. In third place was the convenience of the bank's services; this factor was named among their priority financial preferences by 49% of respondents.
4. For 45% of respondents, the quality of service is important, while the percentage of young respondents who consider this factor a priority was higher than that of the elderly. And for Tinkoff clients, the quality of service (noted by 55% of respondents) and the convenience of services (57%) are even more important than the bank's reliability (52%).
5. If the bank branch is close, then this is very good (including for attracting new customers). This factor is considered important by 41% of the respondents, and it is not surprising that most of them are elderly people.
6. The choice of the bank for many consumers (namely - 31%) was influenced by such a factor as the will of the employer. We are talking about a salary project, which is often voluntary and compulsory for employees.
7. The loyalty program was named among their requirements for a good bank in 2020 by 29% of respondents.
8. Only 18% of respondents would choose a bank based on the feedback from family and friends.
9. And advertising is trusted even less - only 2% of respondents.

Top 10 banks most in demand in Russia among retail clients in 2020

1. The first place, as expected, went to the ex-Sberbank, and now Sberbank. Its retail services have been used by 87.1% of the respondents in the last month (at the time of the survey).
2. The second line was taken by PJSC "VTB" - 23.4%.
3. 19.3% of respondents over the past 30 days have used the services of Tinkoff Bank, which, according to media reports, is preparing to move under the wing of Yandex for 5.5 billion dollars.
4. The share of those who used the services of Alfa-Bank JSC within 30 days was 16.5%.
5. The share of those who use the services of Post Bank JSC is 10.1%. The word "Mail" in the name is not accidental, since the points of presence of this organization (and there are over 19 thousand of them) are open on the basis of the "Post of Russia", and in addition - in the branches of the MFC. Thus, even residents of the most remote corners of the country can become clients of this bank.
6. PJSC Sovcombank was not included in the top five; it had 6.6% of retail customers in 30 days. Recall that this particular bank issued one of the the best credit cards with cashback.
7. Another bank in demand among Russians is Home Credit and Finance Bank LLC. "Hamster", as users affectionately call it, offers many services, including debit and credit cards with cashback. He is a leader in POS lending - that is, in express loan, which is provided directly at the point of sale.
8. JSC "Gazprombank" took the eighth line, with 5.9% of retail customers in one month. But in terms of the volume of the retail portfolio, it is the fourth in the country.
9. At the time of the survey, 5.6% of respondents had used the services of PJSC Bank FC Otkritie in 30 days.
10. And 5% prefer Raiffeisenbank. At the same time, the most popular product of this bank is debit cards; 74% of the clients of this credit and financial organization (among those surveyed by Deloitte) have them.

Top most popular products and services of Russian banks in 2020

1. Bank cards took the first place in the list of the most popular banking products. Their popularity is due not only to the development of acquiring in Russia, but also to the presence of such pleasant bonuses of card ownership as cashback, various promotions, special service conditions, etc.
2. The second place went to deposits and savings accounts. The majority of respondents keep their money in Sberbank or VTB (41% and 36%, respectively).
3. Investment services. Most often, they are in demand among the clients of Tinkoff Bank, while VTB and Sber have a low share of users of investment products - 9% and 5%, respectively.
4. Mobile applications. Previously, in order to resolve any issues with the bank, the client had to visit the branch in person or call by phone. But the development of the banking industry is proceeding rapidly, and the example of Tinkoff shows that a bank can exist without branches at all, with only one headquarters. And all questions can be quickly resolved in the mobile application.

Some large banks make their mobile applications more functional than those of Internet banks, which is an indicator of the importance of this channel of interaction between the bank and its customers.

The most popular among Russians are mobile applications of banks, which seek to combine all their products into a single ecosystem. Examples are MTS Bank, Sberbank and Tinkoff.