The Central Bank of Russia published its Review of Key Indicators of Brokers for 2025 Q1, reporting higher retail investor activity in the securities market alongside continued strong inflows into brokerage accounts. Retail investors deposited RUB 471 billion during the quarter, while total retail assets held broadly steady at RUB 10.6 trillion. The inflow was lower than in the previous quarter but twice as high year on year, and was offset by negative foreign-currency revaluation effects due to rouble appreciation. Expecting monetary policy easing, investors increased bond allocations to lock in high yields, raising the share of federal government bonds and non-financial corporate bonds, largely purchased through offerings; rouble strengthening also supported demand for exporters’ US dollar- or euro-linked bonds settled in roubles.
Central Bank of Russia 2025-06-05
Central Bank of Russia reports RUB 471 billion retail inflows to brokerage accounts and a shift into bonds in 2025 Q1
The Central Bank of Russia's Review for 2025 Q1 shows increased retail investor activity and strong inflows into brokerage accounts, with RUB 471 billion deposited. Despite lower inflows than the previous quarter, the amount doubled year-on-year due to rouble appreciation and expected monetary policy easing. Investors shifted towards bonds, increasing allocations in federal government and non-financial corporate bonds, with rising demand for exporters' US dollar- or euro-linked bonds settled in roubles.