Banks in January 2012 - Sber and Tsesna slow down

After spiking in December bank credit was flat again, as the aggressive growth of mid-size banks moderated. Tsesna has run into the capital adequacy issue and Sber is about to. Most banks were accumulating liquidity to service February payments of the mineral extraction tax by their clients. ATF’s liquid assets shrank by half in the last three months due to withdrawals of corporate deposits. BTA lost T106bn of deposits, both corporate and retail. Alliance’s equity recovered to T11bn, but was still far from statutory adequacy. BTA remains in deep capital deficit.