Foreign investments in Russian banks declines

The attraction of foreign capital by Russian banks declined in January 2003. According to preliminary data, the drop was 8.4 percent, the Russian Central Bank reported. As of February 1, 2003, foreign liabilities were RUR360.921bn (about $11.43bn) against RUR394.219bn (about $12.48bn) on January 1, 2003. Imports of capital by Russian credit institutions gained RUR3.050bn (about $96.55m), or 0.3 percent, in January 2003. As of February 1, 2003, foreign assets at banks reached RUR596.817bn (about $18.89bn).

Time, savings and foreign currency deposits at banks advanced 4.4 percent, or RUR59.795bn (about $1.89bn) as of February 1, 2003, to 1.382 trillion rubles (about $43.75bn).