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Bank of Russia upgrades outlook on growth of retail, corporate lending for 2023

The regulator maintained its projections on growth of retail, corporate and mortgage lending for 2024-2025

MOSCOW, April 28. /TASS/. The Bank of Russia has upgraded its outlook on growth of retail and corporate lending for 2023, as well as its mortgage lending outlook, according to files released on Friday.

In particular, the outlook on growth of corporate lending for 2023 went up to 9-13% from 8-12% expected earlier, while the outlook on retail lending growth rose to 11-15% from 10-14%. The outlook on growth of mortgage lending in Russia for this year has been upgraded to 13-17% from 12-16%.

The regulator maintained its projections on growth of retail, corporate and mortgage lending for 2024-2025. It expects growth of corporate lending at 8-13% in 2024 and 2025, while retail lending is projected to increase by 9-14% in 2024 and by 8-13% in 2025. The outlook on mortgage lending growth for 2024-2025 remained at 10-15%.

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