Banks in Russia saw a slowdown in corporate lending growth in September 2025, with banks’ claims on companies, including bonds, rising by 0.7% compared to 1.7% in August. The growth was primarily attributed to ruble-denominated loans issued mainly to developers, oil and gas producers, and transport companies.
The volume of outstanding mortgages for households, which includes both mortgage portfolios and securitized loans, continued to grow at a moderate pace, increasing by 0.8% in September after a 0.9% rise in August. This growth was mainly supported by government programs, with subsidized mortgages making up about 80% of the total. The share of new market-based mortgages is gradually increasing but remains small due to high interest rates.
Preliminary data indicate that the consumer loan portfolio contracted by 0.1% in September, following nearly flat dynamics in August. The issuance of new cash loans declined, while credit card loans saw a slight increase.
Client funds growth also slowed, with the rate dropping to 0.6% from 1.3% in August.
The banking sector’s net profit rose to ₽367 billion, largely due to reduced provisioning and an increase in net interest income.
The Central Bank noted: “Please note that the principle of calculating certain indicators and their growth rates has been changed in order to harmonise banking and monetary statistics.”
More information can be found in the analytical material “Russian Banking Sector Development in September 2025”.
