Russian bank Vozrozhdenie announced Thursday deposits of $29 million as of Feb. 1 at its Volgodonsk branch.
The bank boasts more than 55,000 retail accounts and has taken special care to build a formational base. In this regard private deposits are crucial.
Despite trouble in the federation's economic climate, the bank was able to raise deposits by approximately $2.5 million in December 2014 and January 2015.
"In December and January we provided explanatory work to all investors and organized several advertising campaigns, which further strengthened the people's confidence in us," Volgodonsk Branch Manager Sergei Studenikin said. "And it is possible not only to retain customers, but also to significantly expand the cooperation with them, as well as attract new depositors."
Studenikin attributes the branch's success to the diligence and hard work of its employees.
"For us it is not so much a time marked by overcoming difficulties, as the opening of new opportunities," he said.