In February, the corporate lending portfolio saw a slight increase of 0.1%, following a 1.2% decline in January. The growth in lending was still limited by substantial budget expenditures, as companies benefiting from state contract compensations did not require loans.
Mortgage lending experienced a 0.2% rise after experiencing a seasonal decrease of 0.2% in January. However, the consumer loan portfolio continued its downward trend with a 0.9% decline compared to a 0.3% drop in January, influenced by high interest rates and strict macroprudential policies.
Household deposits in banks increased significantly by 1.9%, recovering from a seasonal dip of 0.8% in January, driven by attractive deposit interest rates. Meanwhile, business funds with banks showed minimal change with an increase of just 0.1%, following a moderate inflow of 0.5% in January.
The sector’s profit for February decreased by one-quarter to ₽214 billion from ₽286 billion in January due to rising operating expenses and negative foreign currency revaluation.
Further details can be found in the information and analytical material titled “Russian Banking Sector Development in February 2025.”
Preview photo: Vladimir Smirnov / TASS
