Household deposits significantly grew in February

According to the data provided in the informational and analytical publication, ‘Review of the Banking Sector of the Russian Federation in January-February 2019’, changes to the accounting procedures for credit institutions have influenced the structure and size of banks’ balance sheets and will continue to affect the dynamics of their financial results in the coming months

During the period in question, the corporate loan portfolio grew by 1.4% (largely thanks to its ruble-denominated part) while the retail loan portfolio increased by 2.6%. The trend towards dedollarisation continued.

Household deposits adjusted for FX revaluation went up by 1.6%. If we exclude December values, which are usually higher due to seasonal factors, the growth registered in February was the highest in the last two years.