Sberbank loses market share

Sberbank's share of the market for individual deposits decreased to 62.4 percent as of August 1, 2004 from the beginning of this year, the Russian Economy Ministry reported in a release monitoring. This year Sberbank's market share hit its record low (61.1 percent) on May 1, 2004. Individual deposits in Russia grew 15.9 percent from January to July of this year to RUR1.754 trillion (about USD60bn). They contributed 28.2 percent to the overall liabilities of Russian banks compared to 27 percent as of January 1, 2004. Ruble-denominated deposits advanced 20.6 percent.