Support The Moscow Times!

Bank Loans, Profit Up

Retail lending rose 2.2 percent in December, the biggest gain since September 2008, after a 1.5 percent increase in November, the Central Bank said Monday in a report. Corporate loans advanced 1.1 percent, compared with 1.6 percent the previous month.

Overdue bank loans dropped to 5.7 percent of all lending in December, the lowest level since July 2009, according to calculations based on the report. Delinquent corporate loans improved to 5.3 percent from 5.6 percent in November, and nonperforming consumer loans totaled 6.9 percent, compared with 7.3 percent a month earlier.

The banking industry posted a combined profit of 573.4 billion rubles ($19.5 billion) last year, almost triple the 2009 figure of 205.1 billion rubles, the Central Bank said. 


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.