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Corporate Borrowings in January-September 2018

Michael Khromov – Head of Department for Financial Studies of the Gaidar Institute; Senior Research fellow of the Center of Structural Research, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Elizaveta Khudko – Senior Research fellow of the Budget Policy Department of the Gaidar Institute; Senior Research fellow of the Budget Policy Department, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In 2018, bank lending to corporate customers is gradually gaining momentum mainly by means of rouble loans to non-financial institutions. Domestic bond market dynamics slowed down dramatically due to reduction of new borrowings by the Rosneft oil company. In 2018, the share of bond loans on the domestic market is diminishing.

Key words: Russian banking sector, corporate borrowers, nonfinancial institutions, financial institutions and domestic bond market.