The Central Bank of Russia published its review of project finance in housing construction for 2025 Q2, reporting that the project finance loan portfolio increased to RUB 0.7 trillion from RUB 0.4 trillion in 2025 Q1 and accounted for about 60% of the quarterly increase in the corporate loan portfolio. Developers’ outstanding loans exceeded RUB 9.3 trillion at quarter-end, equivalent to 48% of banking sector capital. The number of issued loans rose slightly as new projects were launched, while repayments decreased as the commissioning of new housing slowed. Monetary sales of flats under equity construction agreements fell 6% quarter on quarter, while inflows into escrow accounts remained at RUB 1.1 trillion, with the gap largely linked to installment schemes. The weighted average rate on the project finance portfolio rose to 10.7% per annum (+0.4 percentage points quarter on quarter) but remained well below the average corporate lending rate of 18.9%.
Central Bank of Russia 2025-08-27
Central Bank of Russia reports housing project finance loan portfolio rising to RUB 0.7 trillion in 2025 Q2
The Central Bank of Russia's review of project finance in housing construction for Q2 2025 shows a rise in the project finance loan portfolio to RUB 0.7 trillion, contributing 60% to the corporate loan portfolio increase. Developers' outstanding loans reached RUB 9.3 trillion, 48% of banking sector capital, with a slight rise in issued loans and a decrease in repayments. The weighted average rate on the project finance portfolio increased to 10.7% per annum, below the average corporate lending rate of 18.9%.