July sees a slight recovery in corporate and mortgage lending
According to preliminary data, households’ outstanding mortgage loans (including the mortgage portfolio and securitised loans) rose by 0.7% (vs +0.6% in June), which is comparable to the average monthly increase of 2024 H1. Mortgage lending went up by 15% month on month.
The consumer loan portfolio continued to shrink. According to preliminary data, it lost 0.5% after a 0.8% decline in June. Consumer loan rates remained high but were gradually sliding.
The banking sector's claims on companies (including investments in bonds) rose by 1.1% (+0.9% month on month). About a third of the increase was due to housing developers.
The growth rate of household funds with banks was comparable to that of the previous month (+1.3% vs +1.5% in June). Legal entities' funds went up significantly by 1.4% (vs −0.2% in June), partly because of advance payments under government contracts.
The sector’s profit (₽397 billion) remained at the June level (₽392 billion net of dividends from Russian subsidiary banks).
More details are available in the information and analytical material Russian Banking Sector Development in July 2025.