Page 102 - RusRPTJan21

8.1.3​ Deposits
Funds of legal entities in November showed significant growth​ (+1173bn rubles11, or + 3.8%). At the same time, it was mainly foreign currency funds that increased (+800bn rubles in equivalent, or 8.1%), the growth of ruble balances was more moderate (+ 1.8%). Primarily the increase was in a number of large companies in the oil and gas industry. Funds in Sberbank grew more actively (+ 4.2%) than in other large banks from among the top 100 (+ 2.9%).
Funds of the population (excluding funds in escrow accounts) increased slightly (+52bn rubles, or 0.2%), while the dynamics of foreign currency deposits was positive (+ 1.6%), and in rubles - negative (-0.2%). Against the background of fairly low deposit rates (4.44% 12 in the third decade of November), the population continues to invest in alternative instruments.
In particular, escrow accounts, which characterize people's investments in real estate, in November grew by 171bn rubles, although not all of these funds were savings (part of the Lena by the banks themselves within the framework of the mortgage). Also, a significant amount of funds from the population flows into stock market instruments (November data is not available, but October gain of such instruments amounted, according to various estimates, to 150bn rubles.13) and foreign cash currency (about 120bn rubles14).
The growth of government funds in bank accounts in November was moderate
102 ​RUSSIA Country Report​ January 2021 www.intellinews.com