THE CURRENT STATE OF DEPOSITS AND HOUSEHOLD LENDING IN RUSSIA

The banking sector is witnessing fierce competition for private depositors’ funds, with financial institutions expanding their range of deposit products, actively employing digital solutions, and striving to increase transparency in the handling of savings. At the same time, changes in household savings and loan issuance indicate that Russia is undergoing a phased restructuring of institutions aimed at adapting to the updated macroeconomic environment and evolving consumer habits. Banks are reconsidering their approaches to attracting clients and the terms of deposit and loan services, with a focus on digital transformation and public reporting on product features. The lending system is undergoing restructuring, with the share of targeted products and long-term loans increasing; at the same time, borrower creditworthiness assessment procedures are becoming stricter, and regulatory measures are encouraging the market to adopt a cautious approach to risky positions.