Page 64 - RusRPTNov18

The average amount of consumer loan for refinancing in the first six months of 2018 increased by 17% compared with the first half of 2017 and amounted to RUB520,000. The share of refinancing consumer loans from all disbursements was 2.28%, which is 0.78 pp higher than in the same period last year.
The amount of refinanced loans in July 2018 amounted to RUB14.6bn, which is twice as much as a year earlier. Refinancing of auto loans increased RUB1.6 times - up to RUB171.9mn. On credit cards, it amounted to RUB57mn, which is 2.3 times more than in July 2017.
In terms of mortgages, peak volumes of refinanced loans were noted in May 2018 - almost RUB4.5bn. In July 2018, consumers refinanced loans of this type in the amount of RUB3.2bn, which is 2.7 times more than in the same period last year.
8.1.3 Deposits
The CBR has published the banking sector statistics for September 2018. Retail deposits grew 8.8% y/y (+6.2% excluding the FX factor), despite the 1.6% m/m outflow. Corporate accounts were up 9.3% y/y (+4.5% net of the FX factor), but stayed flat m/m in September.
The weak performance of customer accounts pushed gross loan to deposit ratio to 89%, from 86% a year ago. In September, the lack of funds from customers was offset by the increase in funds attracted from the Ministry of Finance (+10.1% MoM) and the CBR (+13.1% MoM).
The population’s funds in foreign currency in September declined by $901mn (2.7%) and amounted to $32.5bn. Most likely, Russian citizens simply took these funds from the bank and did not convert in ruble deposits. According to the statements, the term and current deposits of the population in rubles declined by 45.78bn rubles last month. (by 0.5%), up to 9.65 trillion rubles. In general, the outflow of foreign currency deposits slowed compared with August, when individuals took $1.18bn from the bank (see “Kommersant” on September 17).
64 RUSSIA Country Report November 2018 www.intellinews.com