In July, preliminary data show that outstanding mortgage loans for households, which include both the mortgage portfolio and securitised loans, increased by 0.7%. This is slightly higher than the 0.6% rise recorded in June and aligns with the average monthly growth seen in the first half of 2024. Mortgage lending activity grew by 15% compared to the previous month.
The consumer loan portfolio continued its downward trend, shrinking by 0.5% after a decline of 0.8% in June. Although consumer loan rates remained high, they have been gradually decreasing.
Claims by the banking sector on companies, including investments in bonds, rose by 1.1%, following a 0.9% increase from the previous month. About one-third of this growth was attributed to housing developers.
Household funds held with banks grew at a rate similar to the previous month, up by 1.3% compared to a 1.5% increase in June. Funds from legal entities saw a notable rise of 1.4%, reversing a decrease of 0.2% in June; this was partly due to advance payments under government contracts.
The banking sector’s profit for July stood at ₽397 billion, maintaining levels close to those seen in June (₽392 billion net of dividends from Russian subsidiary banks).
Further information can be found in the analytical material “Russian Banking Sector Development in July 2025.”
