The pace of lending in June, almost reached the pre-crisis level, the deposits of individuals increased significantly, said the information-analytical material “On the development of the banking sector of the Russian Federation in June 2020.” This positive trend reflects, on the one hand, the emerging stabilization in the economy, on the other hand, a significant influence of the state support programmes.
The corporate loan portfolio in June increased by 204 billion rubles (+0,5%), while sales on 179 billion (+1%). For comparison: in may the dynamics of both portfolios was close to zero. The growth of retail lending due to the mortgage, including in the framework of the state program under 6.5% per annum. In terms of corporate lending growth was almost entirely on loans to financial companies (including in the form of reverse repo). The level of lending to non-financial companies remained virtually unchanged, maintaining the volume of lending is largely secured by state programs to support corporate borrowers.
The situation with the funds of the clients improved after increased volatility in recent months. The volume of deposits of organizations had increased to 468 billion rubles (+1.6 percent), and funds of the population — even more significantly, to 585 billion rubles (+1,9%). However, the latter is largely associated with payments in the framework of the state program of support for families with children (according to our estimates, in June the payments amounted to 290 billion rubles).
In June 2020, banks earned about 70 billion rubles is better than near-zero result may, but still below the average monthly profit last year.
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