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10 Dec 2024, 17:53

Retail loan portfolio of Russian banks down 1.7% in November — Central Bank

The annual incremental growth rate slowed down to 11.1% from 14.9% a month earlier, the regulator informed

MOSCOW, December 10. /TASS/. The retail loan portfolio of Russian banks declined by 1.7% in November after minor growth in October, the Central Bank said.

"According to a flash estimate, the retail loan portfolio contracted by 1.7% after growth by 0.4% in October," the regulator indicates.

The annual incremental growth rate slowed down to 11.1% from 14.9% a month earlier, the Central Bank informed.

The regulator at the same time associates the retail portfolio decline in November with large-scale transactions of consumer loans securitization. The monthly incremental growth rate would be 0.3% without them.

According to flash data, retail loan rates continued growing in November 2024.

In early December, the Bank of Russia raised the upper limit of its forecast of consumer loan portfolios growth with Russian banks to 18% in 2024.