Growth in corporate lending accelerates further in August
Banks’ claims on companies (including investments in bonds) increased by 1.3% after rising by 1.1% in July. Ruble corporate loans were the main contributor to the growth.
The growth rate of mortgage lending also edged up to 0.9% in August from 0.7% in July. The amount of loans issued increased by 10%. The rise was recorded not only in subsidised but also in market-based lending amid declining loan rates.
The consumer loan portfolio barely changed after contracting by 0.5% in July.
Household funds went up only by 0.1% following a 1.3% rise in July. This was probably associated with holiday and back-to-school costs. Corporate funds increased more notably, namely by 2.4% (vs +1.4% in July).
The sector’s net profit (excluding dividends from Russian subsidiary banks) almost halved from ₽397 billion in July to ₽203 billion in August.
More details are available in the information and analytical material Russian Banking Sector Development in August 2025.