The Central Bank of Russia published its banking sector development update for March 2026, showing corporate lending (including bonds) rising 0.4% and retail lending accelerating, with outstanding mortgages up 0.3% and the consumer loan portfolio expanding 0.4% after a February contraction. The banking sector earned RUB 448 billion in profit, up 14% month on month, with results driven by non-operating (volatile) income. Corporate lending growth slowed versus February (0.6%) as advance payments under government contracts reduced contractors’ borrowing needs. Government-subsidised mortgages accounted for nearly 60% of total mortgage disbursements, unchanged from a month earlier. In consumer lending, cash loans continued to decrease while demand for credit cards remained high. Household funds held with banks were broadly flat, edging down 0.01% after 1.9% growth in February, partly reflecting a shift by retail investors into alternative instruments, while legal entities’ funds fell 3.3% after a February increase, largely linked to tax payments made in early March, including taxes for 2025.
Central Bank of Russia 2026-04-17
Central Bank of Russia reports March rise in corporate and retail lending and RUB 448 billion banking sector profit
The Central Bank of Russia reported March 2026 banking sector data showing corporate lending growth slowing to 0.4%, while retail lending accelerated, with mortgages up 0.3% and consumer loans up 0.4% after a February contraction. Sector profit rose 14% month on month to RUB 448 billion, driven by non-operating income. Household funds were broadly flat and legal entities’ funds fell 3.3%, reflecting tax payments and a shift by retail investors into alternative instruments.