Page 74 - RusRPTDec20

8.1.3​ Deposits
In September, banks’ assets posted a 1.7% growth (net of FX revaluation)
mainly due to the increase in lending and investment in long-term securities. This is reported in the ​information and analytical material​ Review of the Banking Sector of the Russian Federation in September 2020.
Corporate loans were up 0.8%, which is below the August readings but still higher than the average 2019 level.
Retail lending continues to expand rapidly — by 1.8% over the month, mainly due to mortgage loans.
In September, investment in debt securities also demonstrated a robust growth, predominantly in OFZs (+6.2%).
On the liabilities side, growth in corporate funds was considerable (+1.2%), though below the August level (+2.4%). Household deposits increased insignificantly (+0.1%).
In September, the net profit of the banking sector totalled 200bn rubles, with a 22% return on capital in annual terms, which exceeded the August readings by almost 20%. However, this growth is in part attributable to FX revaluation.
74 ​RUSSIA Country Report​ December 2020 www.intellinews.com