Page 76 - RusRPTNov19

8.1.2 Loans
Retail lending growth decelerated further in September to 20.9% y-o-y, the lowest annual rate since August 2018, while monthly growth this September was robust at 1.6% m-o-m. Corporate loan growth remained sluggish at just 3.6% YTD and 4% y-o-y in FX-adjusted terms. Sector earnings reached R1,501 bln in 9m19, up 41% y-o-y, affected by lower provisioning charges due to the implementation of IFRS 9.
The sector loan book grew 0.1% m/m in September in nominal terms in September (+8% y/y and +5.6% YTD), while in FX-adjusted terms loan growth was 0.6% m/m (+9% y/y and +7% YTD excluding banks whose licenses have been revoked). Retail loan growth was 1.6% m/m in September (+21% y/y and +15% YTD). Corporate lending decreased by 0.7% m/m in nominal terms and was up 0.1% m/m in FX-adjusted terms (for FX-adjusted y/y and YTD growth of 4%).
8.1.3 Deposits
Retail deposits were down 0.4% m/m in nominal terms and up 0.3% in FX-adjusted terms, for FX-adjusted y/y and YTD growth of 10% and 5% (excluding banks whose licenses have been revoked), respectively. Corporate deposits were down 0.5% m/m in nominal terms but up 0.6% in FX-adjusted terms, for FX-adjusted y/y growth of 5% and a YTD decline of 1%.
76 RUSSIA Country Report November 2019 www.intellinews.o