The Central Bank of Russia published its January 2026 banking-sector update, showing a seasonal slowdown in corporate credit, continued growth in household lending, and a typical January drawdown in household deposits. Banking-sector profit rose month on month, although overall financial performance was reduced by a negative revaluation of securities recognised in capital. Lending to companies (including bonds) contracted by 0.4% in January (December: +0.5%), which the central bank linked to weaker early-year loan demand and higher payments under government contracts in December–January. Outstanding mortgages increased by 0.9% (December: +2.4%), with growth partly attributed to the tightening of the Family Mortgage programme terms from 1 February 2026, while the consumer loan portfolio expanded by 0.9% (December: -0.7%). Households’ funds with banks fell by 1.4% (December: +5.6%) in line with the usual post-bonus and holiday spending pattern, and companies’ funds rose by 0.2% (December: +0.7%). Banking-sector profit totalled RUB 394 billion in January (December: RUB 176 billion), but overall financial performance was RUB 357 billion due to the negative revaluation of securities recognised in capital.
Central Bank of Russia reports January corporate lending contraction and RUB 394 billion banking-sector profit
The Central Bank of Russia's January 2026 update reports a seasonal slowdown in corporate credit and continued growth in household lending, with a typical January drawdown in household deposits. Banking-sector profit increased to RUB 394 billion, though overall financial performance was reduced by a negative revaluation of securities. Corporate lending contracted by 0.4%, while outstanding mortgages and consumer loans grew by 0.9%.