In December, mortgage lending showed the highest rise in 2021 - 3.2% including securitisation, with the annual growth exceeding 30%, which is more than in 2020 (nearly 25%), according to the information and analytical commentary Russian Banking Sector Development in December 2021.
The monthly increase in consumer lending was 0.9% adjusted for write-offs and sales of bad loans. Over the year, the growth of consumer loans sped up to 20.1% vs 8.8% a year before.
Corporate lending recorded twofold growth vs the previous month (+1.2% in December, +0.6% in November). The annual growth of 11.7% was even higher than in stressful 2020.
Household funds with banks increased by 4.6% over the month, which is typical of the end of the year when companies pay bonuses and the government transfers social payments in advance. Since the beginning of the year, this indicator was up by 5.7% (vs 4.2% in 2020). One of the reasons for this rise was higher returns on deposits. Also, December saw a significant inflow of corporate funds (+4.9%). Over the year, it reached its ten-year high - 18% (vs 15.8% in 2020).
In December, the banking sector's net profit amounted to 111 billion rubles. This is nearly two times less than the monthly average over the year. In 2021, banks earned 2.4 trillion rubles, which is 1.5 times as much as profit reported in 2020 (1.6 trillion rubles). This largely resulted from business expansion and low costs for provisioning.
Presentation 'Russian Banking Sector Performance in 2021'
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Central Bank of the Russian Federation published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2022 00:10:01 UTC.
