Growth in corporate lending accelerates in October
The growth rate of bank lending to companies (including bonds) rose from 0.7% in September 2025 to 2.5% in October 2025 since the demand for financing is typically elevated at the end of the year. As in previous months, the expansion was mostly driven by ruble-denominated corporate loans.
The increase in outstanding household mortgages accelerated from 0.8% in September to 1.2% in October. The amount of disbursements went up in both the subsidised and market segments. The proportion of government subsidised mortgages edged down, while remaining high (~75%).
According to preliminary data, the downward trend in consumer lending continued. Specifically, the portfolio shrank by 0.4%, as in the previous month, primarily in the segment of cash loans.
The growth rate of clients’ funds was up from 0.6% in September to 1.6% in October, with half of this increase attributable to individuals’ funds.
The banking sector’s net profit declined from ₽367 billion in September to ₽310 billion in October, predominantly due to the foreign currency revaluation.
For more details, see the English summary or the full text of the Financial Stability Review (the full English version will be available later).