Lending growth continues in August
21 September 2020
News
In August, banking sector assets grew 0.6%, with lending remaining the key growth driver, notes the information and analytical report ‘Review of the Banking Sector of the Russian Federation in August 2020’.
The corporate loan portfolio was up 1.2% in August, which is slightly below the July level but higher than last year. Retail lending continues to grow at accelerated rates, with the monthly growth pace of 1.9% in August.
Household deposits changed little if at all in August, while corporates’ account balances went up substantially (+2.4%).
Banking sector profit totalled 172 billion rubles in the month, which is almost a third higher than the July number.
