May sees banks to continue actively lending to economy
In May, corporate loan portfolio grew pretty actively (+1.1%) but a bit more slowly than in April when a number of large transactions were financed. The retail loan portfolio continued increasing intensively for the third month in a row (+2.2%), with unsecured loans growing faster than mortgages.
As for funding, the biggest inflow was received by corporate customers (+2.4%) and via the budgetary channel mainly owing to tax and dividend payments. Household funds reduced as expected (-1.5%) after a considerable increase in April when the social payments due in May were made available in advance.
In May, the net profit of the sector totalled 216 billion rubles, with a 23.6% return on capital in annual terms; that is 7% above the April figure. The sector’s capital on the balance sheet reduced following a dividend payment made by the largest bank.
Further details are available in the information and analytical material Russian Banking Sector Developments in May 2021.