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Bank Deposits Set to Grow

Bank-deposit growth this year may exceed last year’s record as people seek safer investments than stocks and real estate, said Alexander Turbanov, head of the Deposit Insurance Agency, Kommersant reported Friday.

The agency raised its forecast for 2010 to 25 percent growth from 20 percent, the paper said. Russians had 7.5 trillion rubles ($238 billion) in bank accounts at the end of 2009.

(Bloomberg)

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