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Bank of Russia registers rapid growth of corporate lending in yuan

Meanwhile, the share of the yuan grew steadily in clients’ funds, though it is also insignificant so far, standing at around 2% of Russian banks' client funds

MOSCOW, March 7. /TASS/. Corporate clients’ lending in yuan is growing rapidly, though the share of such loans is still small, about 1%, according to the Russian Central Bank’s analytical review.

"Assets in foreign currency decreased mainly due to the gradual decline in corporate loans in foreign currency (approximately 50% of assets in foreign currency), with their share in the corporate portfolio down to 16% from 23%. Lending in the Chinese currency is growing fast, though the share of such loans is minor so far, equaling around 1% of the portfolio," the regulator said.

Meanwhile, the share of the yuan grew steadily in clients’ funds, though it is also insignificant so far, standing at around 2% of Russian banks' client funds.

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Central Bank of Russia

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