Page 60 - RusRPTJan22

+2.3% SA m/m). the Central Bank of Russia (CBR) has been concerned with the appearance of a consumer loans bubble and increased the prudential requirements on banks making retail loans to try and slow the growth of loans somewhat.
Corporate lending on the other hand has been recovering well and rose to 12% y/y (+1% SA m/m), and deposit demand eased (+9.35% y/y in October vs. 10.8% y/y in September) mainly on the back of lower corporate demand (16.56% y/y in October vs. 21.5% y/y in September). Overall household demand recovered but remained low at 3.5% y/y in October vs. 2.6% y/y in September.
Funds in escrow accounts placed by equity construction participants totalled over 2.8 trillion rubles as of 1 November 2021. Moreover, 0.7 trillion rubles from escrow accounts under completed projects have already been transferred to developers or used to repay the loans they raised. The overall limit under currently effective loan agreements concluded by banks and developers reached nearly 6 trillion rubles.
60 RUSSIA Country Report January 2022 www.intellinews.com