"Sber" reported a 20% reduction in "mattress-pillow" money from Russians

"Sber" noted a 20% reduction in "mattress-pillow" money from Russians over the past six months. This was stated on Friday, December 6, the head of the bank Herman Gref, speaking at the Investor Day.

"We see historically the lowest stocks of "mattress" money, people are pulling money out of pillows and mattresses, carrying everything to deposits, which can't help but please," TASS quoted him as saying.

Gref noted that such a trend will allow the Russian economy to develop more actively and the country's citizens to earn, adding that over the past six months there has been a 20% reduction in "mattress-pillow" money.

He also pointed to the trend to convert foreign currency savings accumulated in 2022.

Loans to the public: Russians have accumulated loans worth a record 38 trillion rubles

How much loan disbursements have slowed down and whether this is enough to reduce inflation

Earlier, December 4, Deputy President - Chairman of the Board of VTB Georgy Gorshkov said that the share of cash savings among Russians has fallen to a minimum in six years. He pointed out that by the end of the year, this percentage may decrease by a few more points. He also expressed the opinion that about 350 billion rubles in cash will be transferred to bank accounts this year.