The Central Bank of Russia published its January 2026 banking-sector update, showing a seasonal slowdown in corporate credit, continued growth in household lending, and a typical January drawdown in household deposits. Banking-sector profit rose month on month, although overall financial performance was reduced by a negative revaluation of securities recognised in capital. Lending to companies (including bonds) contracted by 0.4% in January (December: +0.5%), which the central bank linked to weaker early-year loan demand and higher payments under government contracts in December–January. Outstanding mortgages increased by 0.9% (December: +2.4%), with growth partly attributed to the tightening of the Family Mortgage programme terms from 1 February 2026, while the consumer loan portfolio expanded by 0.9% (December: -0.7%). Households’ funds with banks fell by 1.4% (December: +5.6%) in line with the usual post-bonus and holiday spending pattern, and companies’ funds rose by 0.2% (December: +0.7%). Banking-sector profit totalled RUB 394 billion in January (December: RUB 176 billion), but overall financial performance was RUB 357 billion due to the negative revaluation of securities recognised in capital.
Central Bank of Russia 2026-02-26
Central Bank of Russia reports January corporate lending contraction and RUB 394 billion banking-sector profit
The Central Bank of Russia's January 2026 update reports a seasonal slowdown in corporate credit and continued growth in household lending, with a typical January drawdown in household deposits. Banking-sector profit increased to RUB 394 billion, though overall financial performance was reduced by a negative revaluation of securities. Corporate lending contracted by 0.4%, while outstanding mortgages and consumer loans grew by 0.9%.