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MIL OSI Translation. Region: Russian Federation –

Source: Central Bank of Russia – Central Bank of Russia –

The total assets of banks, brokers, insurers, management companies and other financial institutions grew by 28% last year. The main contribution has traditionally been made by banks. They are followed by brokerage assets and mutual fund assets.

The share of the US dollar and euro in the assets and liabilities of banks continued to decline, while the share of the yuan increased. This was facilitated by the increased use of Chinese currency in export and import transactions, which also led to an increase in lending in yuan.

Citizens have returned to investing in the financial market. Despite high deposit rates and current restrictions on the acquisition of assets of companies from unfriendly countries, last year there was an influx of household funds into brokerage accounts and collective investment instruments.

Read more in the analytical material “Overview of the Russian financial sector” for 2023.

Preview photo: Maxim Aksutin / Shutterstock / Fotodom

Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

MIL OSI News (multilanguage service)