Analyzing the saving behavior of Russian banks'' depositors
Subject The article considers the theory of saving behavior from the perspectives of economic theory, economic psychology and economic sociology. Objectives The aim is to identify factors determining the saving behavior of bank depositors, their preferences for different forms of savings, and strategies of their behavior in the financial sector. Methods The analysis of bank depositors' saving behavior is based on the social survey data conducted among the bank depositors of Nizhny Novgorod under the structured interview method. We processed the survey data using the methods of logical and statistical analysis. Results We assessed the perception of banks by depositors, highlighted their preferences regarding different forms of savings, defined depositors' selection criteria when choosing a bank, identified types of depositor behavior. We also reviewed the impact of confidence in banking institutions, revealed and measured different strategies of bank depositors in the deposit market. Conclusions The findings demonstrate greater trust in big and State-owned banks. The most significant selection criterion is bank's reliability. Next important criteria are service quality, convenience and profitability. Most depositors are prudent and reasonable when choosing a bank, they tend to thoroughly gather information and consult with professionals. The survey identified professional, semi-professional and trustworthy types of depositor behavior. The findings may be useful for banks to develop their strategy of interaction with depositors, for government authorities to manage household saving behavior, and for depositors to take financial decisions.