Corporate lending grows moderately in April
In April, the amount of funds provided to companies by banks increased by 1.1% vs 0.7% in March. The growth was driven mainly by corporate loans (+0.9%). These dynamics were comparable to those observed in March.
Households’ outstanding mortgage loans went up by 0.4% vs 0.2% in March. The 13% rise in new mortgages was mostly attributed to government subsidised programmes, in particular Family Mortgage. The consumer loan portfolio continued to contract (-0.7% in April vs −0.2% in March), primarily in the segment of cash loans.
Companies’ funds declined moderately by 0.7% (vs −2.8% in March), in part due to large tax payments. Household funds notably increased in April (+2.8%), as compared to March (+0.8%), which was associated with the indexation of social allowances and an earlier payment of child benefits and pensions.
The sector’s profit totalled ₽261 billion. The aggregate financial performance (₽245 billion) was slightly lower, due to the negative revaluation of securities recognised directly in equity.
More details are available in the information and analytical material Russian Banking Sector Development in April 2025.