Tsarev noted a decrease in demand for consumer loans in Russia

In the banking sector of the Russian Federation, there is a decrease in consumer lending, while the growth of the mortgage portfolio remains moderate. Kirill Tsarev, First Deputy Chairman of the Savings Bank, told Izvestia about this on June 19 on the sidelines of the St. Petersburg International Economic Forum (SPIEF-2025).

"If we are talking about mortgages, then we will see a certain moderate growth in the portfolio in terms of growth. That is, year-on-year volumes will probably be less than last year's disbursements. But since these are long, in fact, all issues, that is, 20-25 years, it is clear that from the point of view of the portfolio we will grow," he said.

As for consumer lending, the situation is different.

"From the point of view of consumer lending, we see a combination of portfolio reductions. In other words, we are giving out significantly less than we did last year or two years ago. Therefore, there is, among other things, the duration of the portfolio, of course, the smallest. Thus, we get a gradual gradual decrease in consumer lending portfolios," explained Tsarev.

According to him, the further development of the situation will depend on the key rate. If it decreases in the second half of the year, this will necessarily lead to an increase in lending volumes. However, one should not expect this growth to be significant.

"We have certain modeling, but there is still such a multifactorial model. It is probably more correct to use the concept of the real interest rate here. In other words, this is, in fact, the key minus inflation," Tsarev summed up.

The regions are doing well: the budgets of the constituent entities of the Russian Federation have managed without a deficit

Expert RA's data shows a gradual slowdown in the economy in most regions.

Russian President Vladimir Putin said on May 26 that the Russian economy is developing at a good pace, with growth of 4.3% last year. According to him, the positive dynamics is associated with key areas: industry, agriculture, digital technologies, services and finance. He also called the merit of business the fourth place of the Russian Federation in the world economic ranking in terms of purchasing power parity.