The Central Bank of Russia published information on banking sector developments in May 2026 showing continued growth in corporate lending, a return to modest mortgage growth, a sharp pickup in consumer lending and broadly stable sector profitability. Bank lending to companies, including bonds, rose 1.5% in May after 1.9% in April, while households’ outstanding mortgages increased 0.3% and the consumer loan portfolio expanded 1.4% after near-flat growth in April. Banking sector profit totaled RUB362 billion, broadly in line with April. On a year-on-year basis, corporate lending was up RUB12.8 trillion, or 13.6%, with about half of new loans issued to state-owned companies and developers and the rest spread evenly across sectors. Mortgage balances increased RUB2.3 trillion, or 10.4%, from a year earlier, while consumer lending still showed a yearly contraction of RUB0.1 trillion, or 0.9%, reflecting earlier weakness despite the stronger monthly reading, which the central bank linked partly to seasonal holiday spending. Household funds held with banks fell 0.8%, which the central bank attributed to advance payment of May social benefits in April and festive spending, whereas corporate funds rose 2.9%, mainly driven by exporters after tax-related weakness in April. The sector’s total financial result was slightly lower than reported profit at RUB352 billion because of negative revaluation of debt securities recognized directly in equity.
Central Bank of Russia2026-06-24
Central Bank of Russia reports faster May consumer lending growth and RUB362 billion banking sector profit
The Central Bank of Russia’s May 2026 banking sector data showed 1.5% growth in corporate lending, 0.3% growth in mortgages and a sharp acceleration in consumer lending to 1.4%. Banking sector profit was broadly steady at RUB362 billion. Household bank funds fell, while corporate funds rose strongly, mainly on exporter inflows.