The Central Bank of Russia reported that corporate lending, including bonds, grew 1.3% in August, down from 1.5% in July, with growth spread evenly across sectors. Consumer lending accelerated to 1.7% from 1.1%, reflecting seasonal holiday and back-to-school spending, while mortgage growth remained broadly stable at 0.5%. Government-subsidized loans increased to about 56% of total mortgages from 52%. Household deposits declined 0.2%, partly because of higher consumer activity, while corporate deposits rose 1.9%, driven mainly by oil and gas producers and energy companies. Banking sector net profit was broadly unchanged at RUB 440 billion as banks increased planned provisions for corporate exposures and received higher dividends from subsidiaries.
2026-09-22Central Bank of Russia
Central Bank of Russia reports slower corporate credit growth and faster consumer lending in August
The Central Bank of Russia reported slower corporate credit growth but faster consumer lending in August, while mortgage growth remained broadly stable. Government-subsidized loans reached about 56% of mortgages, and banking sector net profit held at RUB 440 billion.