Growth of corporate portfolio slows in June, while mortgage lending accelerates
In June, banks expanded corporate lending (including bonds) by 0.4% (vs +1.5% in May). The growth rate in annualised terms equalled 13.7% (vs +13.6% in May).
Households’ outstanding mortgages notably increased, according to preliminary data, specifically by 1.0% (vs +0.3% in May). This rise was mostly driven by news about future tightening of the Family Mortgage programme terms. The growth rate in annualised terms reached 10.9% (vs +10.4% in May). The consumer loan portfolio continued to expand quickly in June, namely by 1.3% (vs +1.4% in May), which was associated with summer holiday spending. In annualised terms, the portfolio was up by 1% (vs −0.9% in May).
The increase in households’ funds with banks was moderate, specifically 0.3% (vs −0.8% in May), which might be attributable to holiday spending and persistently high demand for cash. The growth rate of legal entities’ funds was close to zero (vs +2.9% in May), including because of a reduction in prices for exported energy commodities.
The banking sector’s profit totalled ₽374 billion, which is slightly more than in May. Contrastingly, overall financial performance in June was a little weaker than in May (₽234 billion) due to negative revaluation of debt securities recognised directly in capital.
More details are available in the information and analytical material Russian Banking Sector Development in June 2026.