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Russians' deposits in banks grew by 555 billion rubles in June
Funds of population in banks increased in June by 1.7% as compared with May, or by 555 billion rubles. This is stated in the review of the Bank of Russia “On the development of the banking sector”.
“The funds of the population in June increased by 555 billion rubles (+1.7%). This indicates the preservation of the savings model against a backdrop of the population's low risk appetite, including taking into account the volatility on the stock and foreign exchange markets. It is also partially explained by the growth of social transfers - the indexation of pensions for non-working pensioners (by 10%) and the increase in the amount of other payments after the increase in the statutory minimum wage and living wage from June 1,” the regulator notes.
The ruble balances grew by 2% (567 billion rubles), while the foreign currency ones decreased by 0.2% ($0.2 billion, or 11 billion rubles in the ruble equivalent).
Funds of legal entities remained almost unchanged, having decreased by 35 billion