Bank lending continues to grow in January

January 2018 saw 0.9% growth¹ in the banking sector’s loans to the economy, including 1.0% growth in loans to non-financial organisations. Growth in loans to physical entities remains in positive territory (+0.7% in January) despite having fallen twofold against December 2017 (+1.4%).

The increased funding of banking transactions was fuelled by the inflow of corporate deposits / accounts (+2.4%) as household deposits posted a seasonal decline (-1.5%).

The January 2018 profits of the banking sector totalled 71 billion rubles.

For details of banking sector trends, please refer to the Bank of Russia’s web publication ‘Review of the Banking Sector of the Russian Federation in January 2018’.

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 presentation of key banking sector performance indicators, the data strip out currency effects for credit institutions in operation as of the reporting date (including previously reorganised banks).