Sberbank Sees Rebound in Deposits

Sberbank, home to half of Russian bank accounts, saw deposit inflows of 168 billion rubles ($5.5 billion) in December, recouping October's $3.4 billion outflow and weak November flows, Sberbank said on Tuesday.

Prime Minister Vladimir Putin tried to soothe concerns about deposit safety in late December, saying Russia's banking system had stabilized and there was no danger to private savings.

Sberbank's spokeswoman did not provide any details of the inflow's breakdown between the ruble and other currencies.

Russia's biggest lender has raised interest rates in order to lure back depositors frightened by instability of the financial sector and the weakening ruble. Many commercial banks have followed suit.