March increase in deposits offset seasonal outflow in early 2018

2018 Q1 saw 2.2% growth¹ in the banking sector’s loans to the economy, including 1.8% growth in loans to non-financial organisations. Loans to individuals grew 3.3% in this period.

During the first three months, household deposits along with deposits and funds in corporate accounts grew by 0.5%.

In 2018 Q1, the banking sector received a profit of 352 billion rubles, which exceeds the results of 2017 Q1 (339 billion rubles).

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

¹ Relative banking sector indicators are impacted by ruble exchange rate movements, as well as licence revocations and cancellations (excluding licence cancellations following reorganisations). 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).