The corporate portfolio in the Russian Federation, including SMEs and the public sector, grew by 6.4% in the third quarter of 2024 after a 5% increase in the second quarter of 2024. The Bank of Russia has raised its annual corporate lending forecast to 17-20%. This is reported in the materials of the Central Bank.
In the third quarter, the increase was provided by ruble loans (+7.8%, +5.2 trillion rubles), the bulk of which fell on segments less sensitive to the tightening of the DCS.
At the same time, 20% of the increase was provided by loans to companies from the real estate sector (+1.2 trillion rubles). Housing construction remained the main driver (+0.7 trillion rubles). At the same time, this segment slowed down slightly due to increased volumes of housing commissioning, disclosure of escrow accounts and, accordingly, repayment of previously issued project loans
A significant increase in loans occurred in the industrial (+0.9 trillion rubles) and electric power (+0.4 trillion rubles) industries, where companies mainly raised funds for the implementation of large investment projects.
The regulator emphasizes that such projects are often more profitable to continue even at high rates than to freeze.
In addition, banks actively lent to the economy through leasing and factoring companies (+0.6 trillion rubles).
