MOSCOW, August 21. /TASS/. The corporate loans portfolio of Russian banks accelerated in its growth to 2.1%%, the Central Bank said.

"Corporate lending moved up by 2.1% or by 1.4 trillion rubles ($15 bln) (+1.3% in June), which is much higher than the average monthly rate in the first half of 2023 (+1.1%) and 2021 (+0.9%)," the regulator informed. Only the credit in rubles increased, the Central Bank informed. "They were large issued to companies of mining and metals, transport, chemicals, oil and gas, agricultural and financial sectors, as well as to those dealing with commercial real estate and housing construction," the Bank of Russia said. Such dramatic growth of ruble-denominated lending can be associated with the desire of companies to borrow within the framework of earlier approved credit limits, considering the increase in rates, and the need for borrowed funds for day-to-day operations, the Central Bank noted.

Consumer lending surged by 2% in July (plus 1.6% in June) amid high consumer activity and the increased risk appetite of banks. Consumer loans in the banking sector climbed to 13.1 trillion rubles ($140.5 bln) as of the reporting date. The retail loans portfolio of Russian banks had an uptick by 1.8% in July to 30.5 trillion rubles ($327.2 bln). The corporate loans portfolio amounted to 67.1 trillion rubles ($720.2 bln).