Page 79 - RusRPTDec21

bn)
source: CBR
8.1 Bank sector overview
The Russian banking sector continued to perform strongly in October putting its best month of the year as profitability continues to outstrip every year for the last five years.
Strong growth continued in the corporate lending segment and mortgage in October, while unsecured consumer lending slowed significantly due to the previously adopted “cooling” measures by the Central Bank of Russia (CBR) and the increased cost of loans. The regulator has been worried about a consumer credit bubbling and has been actively working to slow consumer loan growth.
On the funding side, the trend for the growth of fixed-term deposits of the population continued, while the inflow of funds from organizations slowed down due to significant tax payments.
Profit increased after September drawdowns, but due to a one-time factor. At the same time, banks also reflected directly in their capital a significant negative revaluation of securities against the backdrop of an increase in the key rate.
79 RUSSIA Country Report December 2021 www.intellinews.com