Rate of growth in lending to Russian economy accelerates to 1.8% in Oct mainly owing to rise in corporate lending

MOSCOW. Nov 21 (Interfax) - The rate of growth in lending to the economy accelerated to 1.8% in October 2025 from 0.6% in September on the back of the monetary policy easing that has taken place since early summer, the Central Bank of Russia said in an overview.

The trend is primarily explained by the increase in claims on organizations, which grew 2.2% in October from 0.6% in September, primarily regarding ruble loans, which accounted for nearly 80% of the monthly increase in claims on organizations.

"Long-term loans contributed the most to growth in ruble corporate lending as in the previous month, and short-term lending also saw an upturn," the Central Bank said.

Growth in corporate lending accelerated to 2.4% in October from 0.4% in September.

Retail lending continued to show positive dynamics in October amid falling interest rates, according to the CBR. Receivables from households increased 0.8% in October following 0.5% in September, primarily driven by the mortgage segment. However, the annual growth rate remained negative at -0.8% in October, down from -1.1% in September.