Banking sector key performance indicators continue to improve in January – November 2017
In January – November 2017, banking sector assets were up 7.1%1. Loans to the economy rose 5.4%, including 3.2% growth in lending to non-financial institutions. The dynamic growth of the banking sector is evidenced by the statistical data published on the Bank of Russia’s website.
Retail lending saw a further increase. Household loans grew by 11.6% to 12.0 trillion rubles mostly due to expanding mortgage lending, although unsecured consumer loans also gained pace.
The profit of the banking sector increased significantly and amounted to 870 billion rubles for the first 11 months of the current year, a 10.4% growth vs. the same period of 2016 (788 billion rubles).
The increased funding of banking transactions was fuelled by the inflow of household deposits (+6.2%) as well as corporate deposits and account balances (+2.0%).
For details of banking sector trends, please refer to the analytical publication ‘Development Dynamics of the Banking Sector of the Russian Federation in November 2017’ on the Bank of Russia’s website.
1 Relative banking sector indicators are impacted by ruble exchange movements, as well as licence terminations (excluding licence terminations following reorganisations) over the reporting period. Consequently, to enable a more accurate representation of key banking sector performance indicators, the data excludes the currency effects for credit institutions in operation as of the latest reporting date (including previously reorganised banks).