Corporate loan portfolio returns to moderate growth in March
Corporate lending accelerated to +0.9% in March from a modest +0.1% in February. Businesses took out loans for tax payments, among other reasons.
Outstanding mortgage loans of households gained 0.2% vs 0.1% in February. New loans grew by 13%, mainly driven by loans issued under government subsidised programmes. In March, the consumer loan portfolio continued to contract (-0.3%), though more slowly than in the previous month (-0.9%).
Corporate funds with banks decreased by 2.8% after growing by a mere 0.1% in February. The main outflow of funds was registered in the last ten days of the month due to tax payments. The inflow of household funds slowed to +0.8%.
The sector’s profit was ₽244 billion or 14% more than in the previous month.
More details are available in the information and analytical material Russian Banking Sector Development in March 2025.