Customer deposits
The Group’s corporate deposits increased 44.9% in 2012. Excluding the acquisitions, the growth was 27.1%.
As was mentioned above, the volume of corporate term deposits nearly doubled for the year reaching 2.0 trln RUB (excluding the acquisitions); their share in total corporate deposits grew to 61.5%, versus 37.8% in 2011. This relatively expensive source of funding was the main factor contributing to the upward shift in the cost of liabilities.
The Group’s retail deposits increased 21.9% in 2012; excluding the acquisitions of 2012, the growth was 14.0%. Current accounts increased 30,1%, and 12,1% excluding the effect of acquisitions. The proportion of current accounts in retail deposits increased to 20.1% as of end 2012.
|
December 31, 2012 |
December 31, 2011 | |||
| RUB bln | % of total | RUB bln | % of total | |
|
Due to individuals | ||||
| Current/demand accounts | 1,401.1 | 13.8 | 1,077.0 | 13.6 |
| Term deposits | 5,582.1 | 54.8 | 4,649.3 | 58.6 |
| Total due to individuals | 6,983.2 | 68.6 | 5,726.3 | 72.2 |
|
Due to corporate customers | ||||
| Current/settlement accounts | 1,229.1 | 12.1 | 1,372.3 | 17.3 |
| Term deposits | 1,967.0 | 19.3 | 833.5 | 10.5 |
| Total due to corporate customers | 3,196.1 | 31.4 | 2,205.8 | 27.8 |
| TOTAL | 10,179.3 | 100 | 7,932.1 | 100 |