Banks increase lending to economy by 10.4% over eleven months

January–November 2018 saw a 6% increase in the portfolio of loans to non-financial organisations, while retail lending expanded by 21.4%, according to the informational and analytical publication ‘Russian Banking Sector Developments in January–November 2018’ available on the Bank of Russia website.

Deposits and funds in corporate accounts grew by 2.5% over the first eleven months of 2018, and household deposits went up by 2.4%.

Banks’ profits earned in the January to November 2018 period stood at 1.3 trillion rubles, exceeding the figures for the same period of the previous year by a factor of 1.5.

This data excludes currency effects for credit institutions in operation as of the latest reporting date.