Lending growth speeds up in April
24 May 2021
News
Banks’ corporate loan portfolio grew 2.5% in April, which is more than in 2021 Q1 overall (+1.0%). The retail portfolio also continued to grow at high paces (+2.2%), with mortgage lending being the main driver again.
Households’ funds in banks were up 2.9%. Their growth was primarily driven by advance social payments due to non-work days announced between the May holidays. The inflow of funds via the fiscal channel continued mainly owing to tax revenues.
In April, the net profit of the banking sector totalled 202 billion rubles, with roughly 22% return on capital in annual terms, which corresponds to the March readings.
More details are available in the information and analytical material Russian Banking Sector Developments in March 2021.
Preview photo: Ruslylove / Shutterstock / Fotodom