Financial assets and liabilities of the households sector
Q2 2025
Last update: 03.10.2025
In Q2 2025, household financial assets increased by 4.5 trn rubles, financial liabilities rose by 0.3 trn rubles. Financial savings were traditionally higher than in the first quarter.
Rolling
Financial savings (rolling 4Q-period, bln rubles)
Fig. 1
Financial assets of the households sector (bln rubles)
| Annual transactions | Quarterly transactions | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
As of 01.07.2025 |
2021 | 2022 | 2023 | 2024 | Q2-2024 | Q3-2024 | Q4-2024 | Q1-2025 | Q2-2025 | |||
| Financial assets, total | 182 737 | 9 070 | 10 947 | 14 727 | 17 229 | 5 085 | 3 700 | 6 460 | 1 420 | 4 530 | ||
| Currency | 23 252 | 867 | 3 198 | 1 401 | -290 | 9 | -12 | 231 | -809 | 302 | ||
| Deposits | 70 243 | 2 583 | 4 645 | 8 923 | 13 459 | 3 598 | 2 116 | 5 703 | 1 265 | 2 511 | ||
| Broker accounts of households | 376 | 92 | -415 | -99 | -139 | -73 | 10 | -25 | -4 | -23 | ||
| Debt securities | 4 966 | 906 | 47 | 400 | 362 | 171 | 92 | 118 | 404 | 270 | ||
| Loans | 1 120 | 131 | -232 | 167 | 113 | 61 | -9 | 50 | -95 | 51 | ||
| Equity and investment fund shares | 63 599 | 1 832 | 2 167 | 1 914 | 1 446 | 100 | 548 | 541 | 343 | 721 | ||
| Insurance, pension and standardized guarantee schemes | 8 225 | 283 | 15 | 72 | 844 | 126 | 451 | 216 | 117 | 128 | ||
| Other accounts receivable | 4 361 | 519 | 530 | 402 | 878 | 173 | 305 | 206 | 53 | 247 | ||
| Escrow accounts of households | 6 595 | 1 858 | 992 | 1 546 | 554 | 919 | 196 | -579 | 145 | 322 | ||
As of 01.07.2025 deposits (38.4%), equity and investment fund shares (34.8%) and currency (12.7%) still accounted for the largest shares in the structure of household financial assets.
In Q2, household savings traditionally increased mainly due to the growth of deposits (+2.5 trn rubles).
Savings in cash in national currency rose by 334 bln rubles, in foreign currency declined by 32 bln rubles.
Household funds in escrow accounts increased by 322 bln rubles (+ 145 bln rubles in Q1 2025).
These data are also available in the monthly publication.
Transactions by the type of financial instruments (rolling 4Q-period, bln rubles)
Fig. 2
* Insurance, pension and standardized guarantee schemes, loans, other accounts reveivable (w/o escrow accounts).
Household investments in securities and equity and investment fund shares
In Q2 2025 households invested 312 bln rubles in long-term resident debt securities. Investments in non-resident debt securities decreased by 39 bln rubles.
In Q2 2025, household funds in equity and investment fund shares increased by 721 billion rubles. The main growth was provided by investments in resident investment fund units and shares (+ 533 billion rubles).
Household investments in securities and equity and investment fund shares (rolling 4Q-period, transactions in bln rubles)
Fig. 3
Structure of household financial assets by countries as of 01.04.2025 (balances, %)
Fig. 4
Source:
Bank of Russia (Financial accounts of the system of national accounts of the Russian Federation); OECD Data.
Financial liabilities of the households sector, bln rubles
| Annual transactions | Quarterly transactions | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
As of 01.07.2025 |
2021 | 2022 | 2023 | 2024 | Q2-2024 | Q3-2024 | Q4-2024 | Q1-2025 | Q2-2025 | |||
| Financial liabilities, total | 46 387 | 5 097 | 2 941 | 7 288 | 4 911 | 2 121 | 1 352 | 113 | -182 | 265 | ||
| Loans | 43 281 | 5 062 | 2 820 | 7 348 | 4 923 | 2 197 | 1 354 | 76 | -226 | 208 | ||
| Bank loans | 38 880 | 5 203 | 2 875 | 7 323 | 4 972 | 2 343 | 1 378 | 72 | -145 | 336 | ||
| Residential mortgages | 20 404 | 2 956 | 2 444 | 4 828 | 2 429 | 1 178 | 482 | 293 | 73 | 371 | ||
| Consumer loans | 14 009 | 1 934 | 358 | 1 631 | 1 457 | 828 | 492 | -369 | -162 | -104 | ||
| Car loans | 2 659 | 228 | -47 | 504 | 887 | 262 | 338 | 91 | -31 | 60 | ||
| Other bank loans | 1 109 | 105 | 83 | 324 | 82 | 47 | 40 | 26 | -73 | -27 | ||
| Accrued interest claims | 699 | -20 | 37 | 37 | 117 | 29 | 25 | 32 | 48 | 36 | ||
| Mortgage loans sold to mortgage agents and accounted for repayment | 1 726 | -264 | -189 | -278 | -279 | -62 | -72 | -77 | -70 | -69 | ||
| Consumer loans sold to specialised financial institutions | 767 | -61 | -108 | -126 | ||||||||
| Loans received from MFO | 998 | 112 | 75 | 104 | 198 | 36 | 55 | 72 | 104 | 72 | ||
| Loans received from other entities | 584 | -3 | 3 | 182 | 105 | -114 | -3 | 72 | -2 | 0 | ||
| Non-resident loans | 326 | 13 | 56 | 16 | -12 | -6 | -3 | -1 | -5 | -4 | ||
| Other accounts payable (including debt securities) | 3 106 | 35 | 121 | -60 | -12 | -76 | -2 | 36 | 44 | 57 | ||
Bank loans traditionally dominated in the structure of household financial liabilities (38.8 trn rubles), of which mortgage loans accounted for 20.4 trillion rubles. Loans from microfinance organisations totalled 1 trillion rubles, or 2.2% of total household liabilities.
Structure of household financial liabilities (balances, %)
Fig. 5
* Other liabilities include debt securities, non-resident loans and other accounts payable.
In Q2 2025, the growth of loans accounted for 208 billion rubles, with housing mortgage loans +371 billion rubles, which is traditionally higher than in the first quarter. Consumer loans decreased by 104 billion rubles.
Financial liabilities (rolling 4Q-period, transactions in bln rubles)
Fig. 6
* Other liabilities include debt securities, non-resident loans and other accounts payable.
Information on household savings helps to improve the consistency of data on household money income and spending, financial accounts, and sectoral balances of the System of National Accounts (SNA). It also provides updated and detailed data on household financial assets and liabilities, which enables comprehensive analysis of:
- household consumption and saving behaviour;
- household preferences regarding investing in financial instruments;
- structure of household loans;
- dynamics and composition of household financial wealth, which is an integral part of household wealth.
The non-financial part is reflected in the capital account of the SNA, net acquisition of financial assets is recorded in the financial account.
Information on the compiling process of “Financial assets and liabilities of the households sector” is depicted in the methodological notes.
* Financial assets less liabilities (net lending/borrowing).