Russian mortgage lending surges 35% in Jan-Sep 2026, signaling credit expansion

Russian banks issued 3.58 trillion rubles in mortgage loans during Jan-Sep 2026, up 35% year-on-year, with loan count rising 33.5%. This indicates robust domestic credit demand despite sanctions, potentially fueling inflation and prompting central bank tightening. The data is official but unaudited, and sustainability is uncertain given high rates.

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