Active growth in corporate and consumer lending continues in August
Bank lending to companies (including bonds) went up by 1.3% in August (vs +1.5% in July), with the increase distributed evenly across borrowers from different sectors. The portfolio expanded by 13.4% in annualised terms (vs +13.8% a month before).
According to preliminary data, the growth rate of households’ outstanding mortgages in August (+0.5%) was almost the same as in July (+0.4%). Concurrently, the proportion of government subsidised loans in total mortgages edged up to around 56% (vs 52% in July). The increase equalled 10.2% in annualised terms (vs 10.7% a month before).
The growth of the consumer loan portfolio accelerated to 1.7% from 1.1% in July. This is a seasonal pattern typical of August due to holiday and back-to-school spending. The portfolio was up by 3.9% in annualised terms (vs +2.5% in July).
Household deposits with banks decreased slightly (-0.2% in August vs +0.3% in July), which was partly attributable to high consumer activity. Corporate deposits rose by 1.9% (vs +0.6% a month before), driven primarily by oil and gas producers and energy companies.
The banking sector’s net profit remained virtually unchanged in August, equalling ₽440 billion. Banks built up their provisions for the corporate portfolio, as planned, while dividends from their subsidiaries increased.
More details are available in the information and analytical material Russian Banking Sector Development in August 2026.