The volume of corporate lending in the Russian Federation in October increased by 2.4%

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AK&M 22 November 2022 13:57

Russian banks in October 2022 increased the volume of corporate lending by 2.4% or 1.3 trillion rubles. The volume of the portfolio amounted to 56.1 trillion rubles. This is reported in the materials of the Bank of Russia.

Corporate lending grew exclusively in rubles (+3.8% or 1.7 trillion rubles), while foreign currency lending decreased by 5.2% or $7.4 billion.

The regulator notes that the increased demand for loans is also due to the replacement of external borrowings, taking into account the actual closure of Western capital markets for Russian companies. The need for resources is also associated with investments in business transformation and adaptation, the complication of logistics chains, and an increase in prepayment for import contracts.

A significant contribution is made by lending to housing construction, which increased by 4.6% or 200 billion rubles in October.

At the same time, the contribution of state support programs for backbone enterprises continues to decline: in October, loans for 30 billion rubles were issued for them. (40 billion rubles in September, 65 billion rubles in August).