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Financial assets and liabilities of the households sector by the type of financial instruments

December 2023

Financial assets

 

In 2023, the growth of household savings in cash was considerably lower than in 2022 (1.4 trn rubles vs 3.2 trn rubles).

In December 2023, in accordance with the seasonal patterns, household funds in cash in national currency increased

However, monthly growth rate in December 2023 was lower than in previous years due to the outflow of household funds to other (time) deposits in rubles amid rising deposit rates and attractiveness of savings in bank deposits.

Household investments in foreign currency decreased in December by 8.1 bln rubles, and overall in 2023 by 81.6 bln rubles.

Household deposits increased by 9.1 trn rubles in 2023, which is almost twice as much as in 2022 (4.6 trn rubles).

In December, the growth of household deposits was traditionally higher than in November

Total household deposits increased by 3.2 trn rubles in December 2023, the main growth was in other (time) (+1.5 trn rubles) and transferable deposits (+1.6 trn rubles).

Household foreign currency deposits with resident banks increased by 14.9 bln in ruble equivalent.

According to preliminary estimates, the growth of household deposits with non-resident banks was less than in November and amounted to 87.9 bln in ruble equivalent.

Household investments in securities (mainly in listed shares and investment fund units and shares) in 2023 remained at the same level as 2022 and amounted to 1.8 trn rubles.

Household investments in securities was higher in December compared to November

The main growth of securities was driven by the listed shares and investment fund units and shares (+377.3 bln rubles). Households investments in long-term resident debt securities amounted to 122.2 bln rubles, while non-resident debt securities decreased by 64.7 bln rubles.

Funds on household broker accounts increased by 17.4 bln rubles in December.

In 2023, the growth of household funds in escrow accounts increased to 1.5 trn rubles compared to 1.0 trn rubles in 2022.

In December, as lending slowed down, household funds in escrow accounts decreased by 136.8 bln rubles

Financial assets of the households sector (bln rubles)

01.01.2024
bln rubles

Transactions per month,
bln rubles

Transactions per year, bln rubles

October 2023

November 2023

December 2023

2022 

2023 

Assets

Currency

24 938

−150

−232

239

3 182

1 432

National currency

16 216

−164

−323

247

1 955

1 514

Foreign currency

8 722

14

91

−8

1 228

−82

Deposits

54 101

733

1 002

3 204

4 645

9 094

Transferable deposits with banks

16 054

−300

−469

1 568

2 133

2 039

Other deposits with banks

31 314

919

1 346

1 548

473

6 015

Deposits with non-resident banks

6 733*

114

125

88*

2 039

1 040*

Broker accounts of households

552

−4

−53

17

−415

−99

Debt securities

3 853

−34

27

65

70

477

Listed shares and investment fund units and shares

12 445

121

153

377

1 680

1 316

Insurance, pension and standardized guarantee schemes and pension savings

6 757

−20

37

51

15

86

Escrow accounts of households

5 574

199

253

−137

992

1 546

* Estimated value.

Financial assets of the households sector (transactions, bln rubles)

Financial liabilities

 

 

Overall, in 2023, the growth of household borrowings was significantly higher than a year earlier, and amounted to 6.6 trn rubles (mortgage loans increased by 4.1 trn rubles).

In December 2023, credit growth rates began to slow down and household loans increased by only 99.2 bln rubles

The main contribution to the growth of household bank loans in December, as before, was made by mortgages (+287.8 bln rubles). Other bank loans, by contrast, declined by 188.6 bln rubles.
At the same time, as a result of record growth of mortgages during the year, mortgage loans repurchased by mortgage agents and securitized by issuing mortgage-backed securities increased by 425.8 bln rubles (the maximum value since the beginning of 2018).

Households loans (bln rubles)

01.01.2024
bln rubles

Transactions per month,
bln rubles

Transactions per year,
bln rubles

October 2023

November 2023

December 2023

2022 

2023 

Liabilities

Bank loans

35 457

744

546

98

2 477

6 633

Other bank loans (mortgage excluded)

17 251

254

219

−190

431

2 495

Other bank loans (mortgage excluded)

18 207

490

327

288

2 045

4 138

Mortgage loans, repurchased by mortgage agents and securitized by issuing mortgage-backed securities

1 549

−16

−20

426

210

493

Households loans (transactions, bln rubles)

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Department responsible for publication: Statistics Department
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Last updated on: 13.02.2024