The Russians withdrew a record amount for the year from foreign currency deposits in Sberbank

In March, the amount of funds of Russians on foreign currency deposits in Sberbank fell by $635.6 million (minus 2.5%), to $24.4 billion, follows from the turnover sheet of the credit institution as of April 1. Taking into account the accounts of non-residents, the outflow exceeded $660 million. On the foreign currency accounts of individuals (account 40817), on the contrary, there was an inflow of funds for $78 million, but it did not compensate for the withdrawal of money from term deposits. RBC's calculations were confirmed by the Expert RA rating agency.

The outflow of term foreign currency deposits of Russians last month was the most powerful since March 2020. Then, against the backdrop of a collapse in the currency and stock markets due to the coronavirus pandemic, customers took almost $1.4 billion from foreign currency deposits. against the background of the weakening of the ruble.

Sberbank, the largest bank in terms of the share of household deposits, is the first of the systemically important credit institutions to disclose its financial statements. Data on the market as a whole has not yet been published.

In March, the total funds of individuals in Sberbank increased by 0.7%, to 15.5 trillion rubles, according to a press release from the credit institution. This happened due to an increase in the volume of ruble savings of the population on current accounts, as well as balances on escrow accounts, which receive customer funds when buying an apartment in a house under construction. According to the turnover sheet, the funds of Russians on current accounts in the largest bank increased by 1%, or 37.9 billion rubles, to 3.7 trillion. But the volume of fixed-term ruble deposits decreased slightly, by 13.4 billion rubles, to 8.05 trillion rubles.