MOSCOW, June 25. /TASS/. Bank deposits of legal entities went down in Russia in May 2024 compared with the previous month by 1.3 trillion rubles, or $14.5 bln (by 2.2%) as due date for tax payment moved to early May. The funds of individuals soared by as much as 1.3 trillion rubles (2.6%) in May amid attractive depositary rates, which is overall not typical for this month, according to files released by the Bank of Russia.

"The funds of legal entities fell by 1.3 trillion rubles (-2.2%) after a notable inflow in April - by 5%. This is related to the fact that due date for April and Q1 2024 tax payment moved to early May, which is why it is reasonable to consider the aggregate dynamics of April and May. In two months, the increase totaled 1.4 trillion rubles (+2.7%)," the regulator said.

Households’ funds rose by as much as 1.3 trillion rubles (+2.6% after +2.1% in April) amid attractive depositary rates, according to the Bank of Russia. "Such dynamics is not typical for May as the growth of households’ funds is usually minor in this month or they even decrease due to growth of expenses related to vacation and long holidays," the Central Bank explained.