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Central Bank’s outlook on growth of consumer loan portfolio for 2024 upgraded to 12-17%

Meanwhile the regulator maintained its outlook on growth of consumer lending for 2025 at 4-9%

MOSCOW, September 17. /TASS/. The Central Bank has upgraded its outlook on growth of Russian lenders’ portfolio of consumer loans for 2024 from 7-12% to 12-17%, according to files released by the regulator.

"Growth of the portfolio of consumer loans is expected to total up to 17% by the end of 2024. The tightening of macroprudential regulation in Q2 2024 and the growth of debt burden and rates are to offset high consumer activity and growth of households’ revenues," the Bank of Russia said.

Meanwhile the regulator maintained its outlook on growth of consumer lending for 2025 at 4-9%.

The portfolio of Russian banks’ corporate loans is projected to rise by 10-15% in 2024 and by 7-12% in 2025.