Aggregated News From Investment Management Regulators

Banks continue to ramp up mortgage lending and OFZ holdings in November

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Corporate lending grew 0.5% in November, which is consistent with the average monthly growth in 2019. The retail portfolio (adjusted for mortgage securitisation transactions) posted more substantial growth of 1.7%. Mortgage lending retains its accelerated growth pace.

The month saw banks ramp up their investment in debt securities (largely OFZs), which was up 0.5 trillion rubles.

Foreign currency accounts of Russian companies saw a significant inflow of funds (+8.1%). Growth was also reported in individuals’ foreign currency funds, which were up 1.6%; meanwhile, individuals’ ruble funds (excluding escrow accounts) continued to decline (-0.2%).

The banking sector’s net profit for the month totalled 149 billion rubles, which is marginally less than in October. Profit came in at 1.4 trillion rubles for the first 11 months of 2020 (with an annualised return on capital of 16%).

Further details are given in Russian Banking Sector Developments in November 2020, information and analytical commentary.

See PDF here: https://www.cbr.ru/Collection/Collection/File/31769/razv_bs_20_11.pdf

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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