“In July, retail lending growth accelerated to 1% from 0.4% in June.

The issuance of both consumer and mortgage loans has increased, including within the framework of state programs.

Corporate lending also showed a significant growth of 1.2% (0.1% in June), while maintaining the trend towards portfolio devaluation,” the regulator said in its materials.

It is specified that the corporate portfolio in July increased by 600 billion rubles "due to a number of large transactions, as well as due to the issuance of about 160 billion rubles under government programs."

Earlier, Russian Prime Minister Mikhail Mishustin said that a decision had been made to indefinitely extend the Rural Mortgage program of preferential lending.