The economic recovery and the expected rise in interest rates are stimulating demand for corporate loans. The quality of the aggregate portfolio of corporate loans is improving: the average level of past-due debt is gradually decreasing; the level of profitability is moving up. At the same time,...

In Q3 2021, there was a decline in the volume of mortgage lending for the first time since the outbreak of the pandemic, due to an increase in interest rates, as well as changes in the terms of preferential state-supported mortgage programs. In the near future, in the absence of significant...

Revenue receipts to the federal budget are above planned volumes both for the oil and gas and the non-oil and gas components. According to results for three quarters of 2021, federal budget revenues amounted to Rb 17.9 trillion, which is equivalent of 95.5% of the projected annual volume and...

The profit of the banking sector for the three quarters of 2021 hit a record Rb 1.87 trillion. The rapid growth of lending to the population, reduction in the cost of reserve creation due to the low share of outstanding loans, the stock market growth and the development of intermediary...

In Q3 2021, the current account surplus of the RF balance of payments picked up considerably as compared to the same period of the previous year. It happened primarily owing to the appreciation of prices for primary products and increased export volumes thereof. At the same time, there was...

Once the Bank of Russia lifted regulatory easing related to the pandemic, the quality of corporate loan portfolios of Russian banks did not deteriorate: the average level of past due debt remains stable and at a low level; the growth rate of corporate lending corresponds to the 2020 values; the...

At the period-end of January-March 2021, the federal budget surplus was less than in the pre-crisis Q1 2020. After 2020, the budget system recorded an increase in public debt servicing costs driven by a large-scale borrowing and the accumulation of losses by enterprises, which carry forward will...

In Q1 2021, the revenues of the regions’ consolidated budgets went up compared to Q1 2020. The growth was ensured by the federal budget fiscal transfers and an increase in the own tax and non-tax revenues of regional and local budgets. According to the results of H1 2021, we can expect...

In Q1 2021, Russia’s trade surplus reduced by almost one third compared to Q1 2020 due to growth in the total value of imports. Net capital outflows from the private sector decreased compared to the same period last year. This was mainly due to the growth of foreign banking assets and other...

The concept of the emission and circulation of the digital ruble published by the Bank of Russia, suggests the active implementation of the intermediary functions between the end users and the digital ruble platform by credit institutions. In this regard, the risks of an outflow of deposits from...