The Central Bank of Russia published an update on banking sector developments in June, showing that corporate lending growth slowed while household lending remained firm. Corporate lending, including bonds, rose 0.4% in June versus 1.5% in May, while outstanding mortgages increased 1.0% versus 0.3% in May and consumer lending expanded 1.3% versus 1.4% in May. The banking sector’s profit totalled RUB 374 billion, slightly above May. Mortgage growth was mostly driven by news of future tightening in the Family Mortgage programme, lifting the annualised growth rate to 10.9% from 10.4% in May. Consumer loan growth remained rapid and was linked to summer holiday spending, with the annualised rate turning positive at 1.0% from minus 0.9% in May. Household funds at banks rose a moderate 0.3% after falling 0.8% in May, which the central bank linked to holiday spending and persistently high demand for cash, while legal entities’ funds were broadly flat after 2.9% growth in May, partly because of lower prices for exported energy commodities. The central bank also noted that overall financial performance in June was slightly weaker than in May at RUB 234 billion because of negative revaluation of debt securities recognised directly in capital.
Central Bank of Russia2026-07-17
Central Bank of Russia reviews June banking sector, slower corporate lending, stronger mortgage growth and RUB 374 billion profit
The Central Bank of Russia’s June banking sector review showed slower corporate lending growth but stronger household borrowing, especially mortgages ahead of tighter Family Mortgage programme terms. Consumer lending stayed strong on holiday spending, household and corporate funds growth weakened, and the sector posted RUB 374 billion in profit.