MOSCOW, January 20. /TASS/. According to preliminary data, Russian banks continued ramping up retail lending in December 2022, the Central Bank said on Friday.
"According to preliminary data, the buildup of retail lending continued in December, largely on account of the long-term segment, driven by the preserved high demand for mortgage loans under the effect of expectations that the subsidized mortgage lending program for new houses will be curtailed," the regulator said.
Moderate dynamics of debts under other consumer loans can be expected in coming months, considering the higher tendency to save across households and quantity limits for individual high-risk consumer loans effective since early 2023, the Bank of Russia said.