Published on: 2026-09-02
Source: Central Bank of Russia – Central Bank of Russia –
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Bank lending to companies (including bonds) increased by 3.7% (+0.7% in Q1), mainly due to ruble corporate loans. A significant portion of these loans was received by industrial and construction companies. The forecast for 2026 remains in the range of 7–11%.
Household mortgage debt continued to grow moderately (+1.7% after +1.4% in the previous quarter). At the same time, issuances increased mainly in the market segment, while the share of preferential mortgages continued to decline and amounted to about 60% (68% in Q1). By the end of 2026, mortgage portfolio growth of 6–10% is expected, which corresponds to the initial forecast.
The growth of the consumer loan portfolio has significantly accelerated – to 2.8% (+0.3% in the first quarter), including due to the cash loan segment. This dynamic may be related to seasonal household spending on vacations. The growth forecast for the portfolio in 2026 remains unchanged (4–8%).
Client funds grew by a moderate 2.1%. At the same time, the forecast for 2026 was generally raised to 7–12% from 5–10%, as a significant increase in client funds is expected in the second half of the year: by the end of the year, companies will traditionally receive large payments under government contracts, while in December citizens’ accounts will grow thanks to bonuses and advance payments for January.
In the second quarter, banks earned a net profit of 1.1 trillion rubles, which is slightly lower than the result of the first quarter (1.2 trillion rubles), but higher than the initial forecast (about 0.9 trillion rubles per quarter). The profit forecast for 2026 has been revised upwards – to 3.9–4.4 trillion from 3.4–3.9 trillion rubles. Profit is the main source of increasing banks’ capital, allowing them to continue lending to the economy while simultaneously strengthening their resilience by restoring buffers to capital adequacy ratios.
More detailed information is presented in the quarterly review “Banking sector”.
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