Page 70 - RusRPTOct21

8.0 Financial & capital markets 8.1 Bank sector overview
Retail lending accelerated again in August after a slight slowdown in July (mainly consumer) influenced by seasonal factors. Corporate lending, on the contrary, has slowed down somewhat.
Lending growth was supported by significant the inflow of funds from organizations. At the same time, household funds remained almost unchanged, although for the first time since the beginning of 2020 (with the exception of seasonal growth in December), deposits grew quickly. At the same time, the current accounts of individuals, although they were supported by social payments, decreased due to seasonal spending.
There was also an outflow of state funds associated with an increase in budget expenditures.
70 RUSSIA Country Report October 2021 www.intellinews.com