Sberbank CFO warns of rising cash circulation and structural liquidity deficit in Russia
Taras Skvortsov calls for regulatory measures to support the financial market as liquidity shifts to cash
Quick Look
- Sberbank CFO Taras Skvortsov reports a persistent trend of increasing cash in the Russian economy, warning of a structural liquidity deficit in the banking sector.
- He projects 4.2 trillion rubles will shift to cash by 2026 and calls for regulatory intervention.
AI-generated summary
Why It Matters
The Russian banking sector is experiencing a shift of liquidity into cash, a trend that has persisted and is now impacting structural liquidity.
MOSCOW, August 28. /TASS/. The trend toward an increasing amount of cash in the Russian economy persists, and regulatory measures are already needed to support the financial market, Sberbank Deputy Chairman and CFO Taras Skvortsov told TASS in an interview ahead of the Eastern Economic Forum (EEF).
"The trend toward an increasing amount of cash in the economy persists, and, in our view, regulatory measures are already needed to support the financial market. A structural liquidity deficit is emerging in the banking sector, something we have not seen for many years, and this is a clear sign that the problem is growing," he said.
"We currently expect around 4.2 trillion rubles in liquidity to shift into cash by the end of 2026 - the actual figures for July exceeded our forecast. We will see what happens in the fourth quarter, but so far, we have not seen any significant positive changes," Skvortsov added. Nevertheless, in his view, the Russian financial market has a sufficient margin of resilience to expect the situation to normalize.
What to Watch
AI outlook — possibilities, not facts
4.2 trillion rubles to shift into cash by end of 2026
Possible · Within years
Open Questions
- What specific regulatory measures is Sberbank proposing?
- Will the Central Bank of Russia intervene?
