February sees moderate expansion of corporate loan portfolio with expected slowdown in mortgage growth
Bank lending to companies (including bonds) increased by 0.6% in February (vs −0.4% in January). Growth in lending was constrained by significant budget payments, as demand for funding from enterprises fulfilling public procurement contracts was down.
The rise in outstanding household mortgages decelerated (+0.2% in February vs +0.9% in January), largely due to a considerable decrease in new loans issued under the Family Mortgage programme following the adjustment of its terms from 1 February 2026.
The consumer loan portfolio contracted by 0.7% (vs +0.6% in January), mainly on account of cash loans. Credit card utilisation was also down as compared with January when people spent significant amounts during the New Year holidays.
Household funds with banks increased by 1.9% in February after a seasonal decline of 1.4% in January. Corporate funds were also up by 2.7% (vs +0.2% in January). However, this growth was largely driven by the payment of some taxes due in February at the beginning of March.
In February, the sector’s revenue amounted to ₽392 billion, which is comparable with the January figure.
More details are available in the information and analytical material Russian Banking Sector Development in February 2026.