MOSCOW, August 24. /TASS/. Household funds held in Russian banks edged up by 0.3%, or 0.2 trillion rubles ($2.39 bln), in July compared with June amid high demand for cash, according to materials from the Bank of Russia.

"Household funds increased by 0.2 trillion rubles in July (+0.3%, the same as in June). This moderate growth may be associated with increased consumer activity and persistently high demand for cash (the amount of cash in circulation rose by 0.7 trillion rubles in July after increasing by 0.5 trillion rubles in June)," the regulator noted.

On an annual basis, household funds held in banks increased by 9.5% in July, reaching 68.4 trillion rubles ($815.74 bln).

Funds held by legal entities in banks increased by 0.4 trillion rubles ($4.77 bln), or 0.6%, in July after declining by 0.01% in June, despite substantial dividend payments. According to the Bank of Russia, the increase was driven primarily by exporting companies.

Funds held in escrow accounts declined by 60 bln rubles ($716 mln) in July, or 0.8%, after rising by 1.2% in June: the volume of escrow account releases increased, while mortgage lending cooled somewhat.