Page 77 - RusRPTApr20

have a financial safety net, with the capital being one of the few regions where more than half of residents have savings.
Customer funding (excluding state entities' deposits) net of currency moves decreased RUB425bn (0.7%) in January. The net reduction consisted of a RUB58bn (0.2%) inflow of corporate funds and a RUB483bn (1.6%) decrease in retail deposits.
The outflow of retail deposits was an expected partial reversal of a seasonal December spike (RUB1.2 trillion increase), mostly related to prepayment of January pensions and occurred mainly in Sberbank (RUB400bn outflow in January after a RUB630bn increase in December).
Funding from state entities increased RUB637bn in January (7.5%, mainly due to RUB456bn of deposits from the Ministry of Finance). At end-1M20 total state funding (excluding RUB0.5 trillion of subordinated debt provided to Sberbank by the CBR and RUB1.7 trillion deposits at the CBR's bad bank) was RUB7 trillion, or 9% of sector liabilities.
The ruble liquidity surplus (defined as liquidity that banks keep on interest- bearing deposits with the CBR and banks' investments in short-term CBR bonds) increased RUB1 trillion to RUB3.6 trillion, (4% of total sector assets) in January after a seasonal dip in 4Q19.
8.1.4 NPLs
8.1.5 NIMs & CARs
Sector average capital ratios (excluding the bad bank, whose regulatory
77 RUSSIA Country Report April 2020 www.intellinews.com