Sberbank showed the inflow of deposits after reducing the rates


In April, the citizens ‘ deposits in Sberbank increased by 135 billion rubles, and deposits of companies decreased by 9.6 billion roubles, follows from the statements of the Russian state Bank. Quarterly outflow of retail deposits was 2% (RUB 215 billion), and corporate — 5,4% (366 bn).

As explained by managing Director for working with the Sberbank Anastasia Belyanina, if you look at the dynamics from the beginning of the year, the real growth of deposits since the beginning of the year is 0,5%, despite the fact that nominally the index is negative due to currency revaluation. “In April of the same nominal growth in deposits was 1.3% and in real terms of 2.3%,” says Belyanina.

With regard to the deposits of companies, the decline in April was in the real and in nominal terms, Belyanina said. In her words, a nominal decrease of 5.5%, and real — 2,9%. “In General, the outflow of deposits of companies with regard to currency revaluation, amounted to about 300 billion rubles, of which 119 billion rubles accounted for the outflow of ruble deposits. Corporate customers term deposits taken on the background of the fact that we have reduced interest rates, and amid the natural movement of funds. It is an absolutely natural situation, nothing unexpected did not happen,” says Belyanina.

As said a senior banking sector analyst “Aton” Michael Ganelin, despite the decline in rates on deposits for citizens, Sberbank has been an influx: probably affects the mass withdrawal of licenses from banks. “In this situation, in the eyes of the population, only the largest state-owned banks cause trust” — says the analyst.

The sharp decline in interest rates in the savings Bank had at the end of April. Then he lowered the yield on ruble deposits “Stay”, “Pay” and “Control” for 0.5–1,05 p. p. depending on the term and amount of the contribution. For deposits in the currency of the savings Bank has lowered rates nearly to zero: now the minimum bet is 0.01%. Fitch analyst Alexander Danilov explained the lower interest rates on deposits in rubles by the transition of the banking system liquidity deficit to surplus, says Danilov.

As said Danilov, Sberbank, despite the lower rates, will be watching inflow, and it is associated with General state policy. “The Treasury spends the funds of the Reserve Fund, denominated in the currency to cover the budget deficit. First, the Central Bank of that currency at the Ministry of Finance redeems by printing rubles, and then these rubles are spent for budgetary purposes, such as payments to state employees, and ultimately arrive at accounts of banks. Sberbank, as the largest Bank, receives most of these funds”, — says the analyst.